June 22, 2021
Utah Judge Engrafts Flexibility onto the Countryman Definition of Executory Contracts
Rooker-Feldman and other principles can bar rejection of a contract even if it’s ‘executory.’
10th Circuit, UtahMay 26, 2021
Curing Defaults Isn’t Always Required Before Selling a Contract, Third Circuit Says
The ‘Countryman’ definition of an executory contract allows a debtor sell a contract without curing a default if the non-debtor counterparty has no further material, unperformed obligations.
3rd CircuitMay 04, 2021
Once Repudiated, a Contract Is No Longer Executory
Courts disagree on whether a repudiated contract remains executory.
5th Circuit, Texas, Texas Southern DistrictMarch 02, 2021
Landlord Socked $606,000 for Opposing Lease Assumption
Fee-shifting clause in the lease entitled the debtor to recover $606,000 in attorneys’ fees from the landlord for opposing lease assumption.
9th Circuit, California, California Central DistrictFebruary 17, 2021
An Individual Can’t Assume a Lease by Reaffirming the Debt
A lawyer queasy about a client’s decision to assume a lease can’t invoke the court’s scrutiny by making an application to reaffirm the debt under Section 524(c), Judge Hursh says.
9th Circuit, MontanaDecember 17, 2020
Bankruptcy Judges Disagree About Abatement of Rent During the Pandemic
Neither the Bankruptcy Code nor state law permits reducing rent when government regulations restrict a debtor’s ability to generate income, Judge Isgur says.
5th Circuit, Texas, Texas Southern DistrictNovember 16, 2020
‘Lifetime’ Club Memberships May Not Survive Bankruptcy
Before paying up front for a lifetime club membership, read the fine print and consult a lawyer.
3rd Circuit, New JerseyOctober 20, 2020
Exotic Aircraft Finance Defeats a Trustee on Recharacterization
Electing English law upheld, even though no one had any connection with the U.K.
9th Circuit, California, California Central DistrictOctober 06, 2020
First Circuit Won’t Allow a Lien to Be Waived by Implication
Foreclosing on cash doesn’t moot an appeal from the order modifying the automatic stay as to cash.
1st CircuitSeptember 29, 2020
Surety Bonds Aren’t Executory Contracts and Can’t Be Assumed Even if They Are
Insurance companies must nail down the treatment of performance bonds before plan confirmation.
5th Circuit, Louisiana