• Executory Contracts -- How Prompt Is "Prompt"?
  • February 13, 2004 | Author: Risa L. Wolf-Smith
  • Law Firm: Holland & Hart LLP - Denver Office
  • While bankruptcy practitioners know that the language of Section 365 of the Code requires "prompt" cure before an executory contract may be assumed, most do not realize that the cases vary widely in their determination of what constitutes promptness. One can, of course, find authority for the principle that "prompt cure" requires "immediate" payment or payment within a relatively short period of time, but more often than not, what satisfies the requirements of Section 365(b)(1)(A) depends on the facts and circumstances of each case.