Contract and Lease Disputes (Series: BANKRUPTCY BATTLE ROYALE - COMMON LITIGATION SCENARIOS)
A debtor’s continuing rights and obligations under prepetition executory contracts and leases do not simply end upon the filing of a bankruptcy proceeding. Indeed, one of the most valuable tools that a bankruptcy filing gives to a debtor is the ability to analyze those existing contracts and leases and determine whether they still have value to the estate or whether the debtor would be better off without them. The bankruptcy code provides the procedures and mechanisms whereby a debtor can “assume” or “reject” those contracts or leases. This webinar discusses the rules a debtor must follow to do this, including timing for rejection/assumption, cure requirements for assumption, the right/ability to further assign assumed contracts, standards for rejection and calculating rejection damages.
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