August 28, 2017Articles

Battling Bankrupt Bargains, A Non-Debtor Perspective on Executory Contracts

Robert Brady, Partner and Vice-Chair of Young Conaway, recently co-authored "Battling Bankrupt Bargains – A Non-Debtor Perspective on Executory Contracts" with David S. Lorry of Versa Capital Management, LLC.  The article, which appears on the website Commercial Bankruptcy Litigation, reviews Section 365 of the Bankruptcy Code that governs executory contracts and permits debtors to reject or assign various contractual obligations. The authors go on to discuss the rights and protections afforded to non-debtor counterparties to contracts other than non-residential real property leases. These contracts could include equipment leases, supply contracts, intellectual property licenses, employment agreements, financing arrangements, or contracts for services.

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