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IN RE MAYAN NETWORKS CORP.

BAP No. NC-02-1483-JRyK, Bankruptcy No. 01-55393-ASW.

306 B.R. 295 (2004)

In re MAYAN NETWORKS CORPORATION, Debtor. Redback Networks, Inc., Appellant, v. Mayan Networks Corporation; David Judd, as the Estate Manager of Reorganized Debtor, Appellees.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Filed February 5, 2004.

Attorney(s) appearing for the Case

Randy Michelson, Bingham McCutchen LLP, San Francisco, CA, for Redback Networks, Inc.

Margaret P. Sheneman, Murphy, Sheneman, Julian & Rogers, San Francisco, CA, for David Judd, Estate Manager of Reorganized Debtor.

Before JONES, RYAN, and KLEIN, Bankruptcy Judges.

OPINION

JONES, Bankruptcy Judge.

Appellant appeals from the bankruptcy court's order determining that a draw upon a letter of credit given as security for a lease should reduce the amount of Appellant's allowed claim under 11 U.S.C. § 502(b)(6).2

We AFFIRM.

I. Facts

In January 2000, Mayan Networks Corporation (the "Debtor") and Redback Networks, Inc. (the "Landlord") entered into a sublease...

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