Splits and Confounding Issues Destined for the Supreme Court
District Judge Rakoff Explains Why the Debtor Alone May Assert a Cure Claim
A creditor can’t assert a cure claim, even though Section 365(b) doesn’t give the counterparty the sole right to demand a cure on assumption of an executory contract.
Puerto Rico Case and the Efficacy of Prof. Westbrook’s Definition of ‘Executoriness’
The bankruptcy community needs a better definition of what’s an executory contract, and Prof. Jay Westbrook has it.
Court:
Tribal Law Defined the Nature of a Tribe Member’s Property Interest in Gaming Revenue
Federal law allows tribes to determine whether a tribe member’s interest in distributions of gaming revenue will be estate property in bankruptcy, Judge Ridgway says.
Court:
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.’
Court:
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.
Court:
Once Repudiated, a Contract Is No Longer Executory
Courts disagree on whether a repudiated contract remains executory.
Classic Car Club Manhattan Unit Files Bankruptcy Over Lease
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