News & Analysis as of September 27, 2024

Bankruptcy Code

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An assignment is the transfer of a right or benefit from one party to another party. Assignments can occur in contract or real estate contexts. A contract assignment refers to a situation where one party to a contract transfers his/her rights or benefits under the contract to a third party. In a real estate assignment, an interest holder transfers his/her interest in a particular parcel to another party. less -

Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy

What to do When Your Franchisee Files for Bankruptcy

Stark & Stark on 1/27/2022

With the economic downturn caused by COVID-19, many expected a tidal wave of commercial bankruptcy filings. After an initial spike of retail bankruptcy cases at the outset of the pandemic, the onslaught of bankruptcy has not...more

Treatment of Commercial Leases in Tenant Bankruptcy – The Basics

Farella Braun + Martel LLP on 7/13/2020

As the COVID-19 pandemic continues to wreak havoc with the nation’s economy, we have started to see bankruptcy filings by well-known companies such as GNC, J. Crew, Neiman Marcus, Modell’s, 24 Hour Fitness, Gold’s Gym, and...more

District Court Bars Assignment by Sears, Provision in Lease Cannot Supersede §365(b)(3)(A)

Kramer Levin Naftalis & Frankel LLP on 5/6/2020

In an opinion dated Feb. 27, 2020, Judge Colleen McMahon of the United States District Court for the Southern District of New York reversed the decision of the bankruptcy court that had granted Sears the right to assign its...more

Weinstein Bankruptcy Decisions Find Talent Agreement Non-Executory, but Post-Closing Obligations Must be Honored

Latham & Watkins LLP on 2/14/2019

The Weinstein Company Holdings bankruptcy decisions clarify a buyer’s ongoing obligations under contracts purchased in bankruptcy, subject to resolution of appeals. Executive Summary - In the In re The Weinstein...more

The Assignment of Leases in Bankruptcy Free of Prohibitions, Restrictions and Conditions

Patterson Belknap Webb & Tyler LLP on 8/2/2018

In the era that preceded the Bankruptcy Reform Act of 1978 and its enactment of the Bankruptcy Code, bankruptcy estates often lost the value of leases and other contracts that could have been realized for creditors by use or...more

Delaware Bankruptcy Court Rejects “Implied Assumption” of Executory Contracts As Part of Asset Sale

Kramer Levin Naftalis & Frankel LLP on 3/8/2018

The Delaware Bankruptcy Court recently held, in Stanley Jacobs Prod., Ltd. v. 9472541 Can. Inc. (In re Thane Int'l, Inc.), No. 17-50476 (KG), 2018 Bankr. LEXIS 464 (Bankr. D. Del. Feb. 21, 2018), that a debtor must file a...more

Developments in Unitranche Financing (2016)

Morrison & Foerster LLP on 8/13/2016

The increasing use of unitranche financing, both domestically and abroad, has created new opportunities for middle market loan participants. However, lenders must understand the legal issues and potential bankruptcy risks...more

Considerations and Consequences of a Bankruptcy Filing in the Oil and Gas Industry

Jackson Walker on 5/15/2015

A Chapter 11 bankruptcy filing of an oil and gas company will likely have broad implications for a wide range of parties. Certain pervasive agreements in today’s oil and gas industry generate substantial, high-dollar...more

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