Executory Contracts/Leases

Third Circuit Issues an Important Decision on Liquidation of Repo ‘Credit Enhancements’

Appeals court upholds finding that the mortgage securities market in 2007 was declining, not dysfunctional.
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Sixth Circuit Gives Primacy to the Bankruptcy Court in Rejecting Power Contracts

Over a dissent, the Sixth Circuit holds that FERC may offer its opinion but may not bar a bankruptcy court from rejecting a power purchase agreement after considering the public interest.
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Boston Judge Suggests Procedures for Removing Uncertainty from Section 365(p)

Judge Hoffman’s analysis comports with the ABI Commission’s recommendations for improvements in lease assumptions by chapter 7 debtors under Section 365(p).

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