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Executory Contracts and Unexpired Leases

The disposition of a debtor’s LLC membership interest depends on the interpretation of the court, executory contract, or property rights.

A debtor does not have to be insolvent to file for chapter 11 bankruptcy. Can its creditors pursue dismissal of a chapter 11 case?

Legal framework governing assumption, assignment, and rejection of executory contracts and unexpired leases in bankruptcy can be complicated.

In this installment, get an overview of Section 365 and understand how executory contracts can keep distressed businesses afloat.

What rights do non-debtors have in the treatment of executory contracts? Learn about rejecting or assuming executory contracts as a non-debtor.

When a commercial real estate tenant files a chapter 11 bankruptcy case, the landlord faces unfamiliar issues. Although each case is unique, this article provides a basic overview of the issues commercial landlords could run into.

These 3 preference action defenses options involve a detailed analysis of historical business interactions and utilization of records to support your transactions.

When are Ipso Facto Clauses and Golden Share Arrangements Enforceable in Bankruptcy? “Termination on bankruptcy” provisions—ipso facto clauses—are commonly used in many types of business contracts, providing for the termination of the contract (either automatic or at the non-debtor party’s election) upon the obligor’s filing of bankruptcy or the occurrence of similar events or conditions. However, generally, such clauses are not enforceable in the bankruptcy context, because as a matter of policy, debtors should be allowed access to the protections accorded to debtors under the Bankruptcy Code. In some types […]

What Companies Can Do to Protect Their IP Rights in Bankruptcy The Kodak case brought into sharp focus the treatment of intellectual property rights in bankruptcy. Inventor of the roll-film hand camera in 1888 and maker of the first digital camera, the iconic company licensed thousands of patents in its extensive patent portfolio, estimated at $4.5 billion. In 2012, Kodak filed bankruptcy and sold its assets—at apparent fire-sale prices—in bankruptcy court in New York. Sale of a patent portfolio of that size affects the rights of hundreds, if not thousands, […]

A Panel Discussion on the Choice and Challenges of Bankruptcy Venue and Venue Transfers In bankruptcy litigation, the venue can have a major influence on an outcome. We selected expert panel members—each a partner or managing director in the restructuring industry—to discuss why venue fights occur and how business owners (and their advisors) should approach choice of bankruptcy venue, as well as venue transfers. Our expert panelists explore how courts resolve disputes over the venue of a case. Expert Panelists Lisa Vandesteeg, Financial Services and Restructuring Partner at Levenfeld Pearlstein, […]