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'Unassumable' Executory Contracts - Surviving the Ride through Bankruptcy by David M. Fournier
Pepper Hamilton LLP
Wilmington Office
Anne Marie Aaronson
Pepper Hamilton LLP
Philadelphia Office
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January 7, 2009
Previously published on June 30, 2008
Among the most valuable restructuring tools available to a chapter 11 debtor is the ability to assume or reject executory contracts pursuant to Section 365 of the Bankruptcy Code. A debtor that elects to assume a contract can cure defaults, provide adequate assurance of future performance and compel performance by the nondebtor party.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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