Is a royalty interest instrument an executory contract subject to rejection pursuant to section 365 of the Bankruptcy Code?

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In re FOOTHILLS TEXAS, INC., et al., Chapter 11 Debtors

FOOTHILLS TEXAS, INC., et al., Plaintiffs, v. MTGLQ INVESTORS, L.P., Defendant

Case No. 09-10452, Jointly Administered, Adv. Pro. No. 10-51308 (CSS)

United States Bankruptcy Court, D. Delaware

July 20, 2012

Issue: Is a royalty interest instrument an executory contract subject to rejection pursuant to section 365 of the Bankruptcy Code?

Link to Free Copy of Opinion

http://chapter11cases.com/new-bankruptcy-opinion-in-re-foothills-texas-inc-bankr-court-d-delaware-2012-case-no-09-10452-jointly-administered-adv-pro-no-10-51308-css-issue-whether-a-royalty-interest-instrumen/

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Published In: Bankruptcy Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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