When a bank holding company files a chapter 11 case, a key factor to the success of the case will be whether the debtor previously made any commitment to a federal depository institution regulatory agency, such as the FDIC, to maintain the capital of the debtor’s bank subsidiary. This is because section 365(o) of the Bankruptcy Code provides that the debtor is deemed to have assumed such obligations, and any claim for subsequent breach of these obligations is entitled to priority under section 507(a)(9) of the Bankruptcy Code. The FDIC often demands that the debtor honor these commitments, and the viability of the chapter 11 case may depend on the debtor’s ability to either meet its obligations or pay the priority claim. Otherwise, the debtor needs to successfully challenge the FDIC’s claim for breach. In evaluating these challenges, courts often focus on whether the debtor is found to have made a “commitment” at all, but a recent decision by the United States Bankruptcy Court for the District of New Mexico highlights yet another potential challenge: whether the commitment was breached. Although the case, In re First State Bancorporation, is a chapter 7 case, the chapter 7 trustee’s ability to raise this challenge could easily be applied in the chapter 11 cases of other bank holding companies.