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Executory Contracts/Leases

Connecticut Judge Takes Sides in a Circuit Split on Trademark License Rejection

A ‘cert’ petition is in the works to resolve the circuit split from Lubrizol regarding the rejection of trademark licenses.

Contract Wages for Executives Are Not Presumptively Allowable Postpetition, BAP Says

An executive with a rejected contract must prove value to have an allowable administrative claim, 9th Circuit BAP says.
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SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing

The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.

Flip Clauses in Swaps Held Enforceable by District Judge in New York

For swaps, the Section 560 safe harbor overrides the anti-ipso facto provisions in the Bankruptcy Code.

Judge Harner Pens a Primer on the Elements of an Executory Contract

Unperformed obligations must be ‘material’ for a contract to be executory.
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