Gain a better understanding on how to prepare clients and lawyers for different right and contractual relationships that take place during a bankruptcy.
Contracts and leases form the bedrock foundation of business transactions. Enforceability of these agreements inspires confidence and facilitates acceptable risk taking. When a party to a contract or lease files for bankruptcy, certainty and reliance can turn to confusion and questions. Clients and lawyers must quickly adapt and view these agreements in a new light. This topic will give you a better understanding of executory contracts and unexpired leases, what they are and how the bankruptcy code affects enforceability and expands certain rights while limiting others. The speaker will discuss what to do during the period between the bankruptcy filing and assumption or rejection, the requirements for assumption and rejection and the effect of both. This information will prepare clients and lawyers for the different rights and leverage that a bankruptcy can bring to settled contractual relationships.
Overview of Section 365
• What Is an Executory Contract or Unexpired Lease
• Executory Contracts and Unexpired Leases Before Assumption or Rejection
• Effect of Rejection
• Effect of Assumption
Court Approval of Assumption or Rejection
• Standard for Approval of Assumption or Rejection
• Time for Assumption or Rejection
• Failure to Assume or Reject
Cure of Existing Defaults
• Terms of Cure
• Shopping Center Leases
Assignment of Assumed Contracts and Leases
• Adequate Assurance of Future Performance
• Anti-Assignment Clauses and Other Restrictions
• Effect of Assignment
Intellectual Property Licenses as Executory Contracts
• Licensor Obligations Upon Rejection
• Licensee Rights Upon Licensor Rejection
• Types of Covered Intellectual Property Contracts
Thomas D. Maxson with Cohen & Grigsby, P.C.
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,NALA ,Additional credit may be available upon request.