Bankruptcy
Jan. 3, 2003
Debtor May Assign Executory Contracts or Unexpired Leases
Focus Column - Bankruptcy Law - By Leslie A. Cohen and Craig G. Margulies - The assignability of a contract or lease is a critical factor in a bankrupt debtor's ability to reorganize. The U.S. Bankruptcy Code allows debtors-in-possession or trustees to assign (or reject) executory contracts or unexpired leases, notwithstanding prohibitions in contracts or applicable nonbankruptcy law. 11 U.S.C. Section 365(f)(1).
Bankruptcy Law
By Leslie A. Cohen and Craig G. Margulies
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