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Recommended Reading

RECOMMENDED READING: Assignments for the Benefit of Creditors: An Overview With a California Flavor

In “Assignments for the Benefit of Creditors: Simple as ABC?” Robert L. Eisenbach III provides a brief and clear summary of ABC procedures, and illustrates the process usefully with a hypothetical scenario of a cash-negative company with insufficient money to fund further operations and no likely prospects for credit, and which has specific technology assets that a […]


RECOMMENDED READING: Executory Contracts that Cannot Be Assumed and Assigned Because Counterparty Cannot be Compelled to Accept Performance From an Assignee

A debtor has the power to assume and assign executory contracts even when those contracts expressly bar such assumption and assignment (see section 365(f) of the Bankruptcy Code).  Thus, the debtor may sell its interests under a contract over its counterparty’s objection.  This power may be very beneficial to a debtor in possession (and its creditors) […]


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