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Ipso Facto Clauses Executory Contracts

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Ipso Facto Clauses - Bankruptcy Basics for New and Non-Bankruptcy Attorneys

This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals.  This entry will discuss how...more

Williams Mullen

Are the Bankruptcy Provisions in Your Executory Contract Enforceable?

Williams Mullen on

Most every business relies on executory contracts, which often contain at least one bankruptcy provision. It is important for businesses to be aware of the common bankruptcy provisions that cannot be enforced in a bankruptcy...more

Morgan Lewis

Contract Corner: Exceptions to Unenforceability of Termination in the Event of Bankruptcy Clauses (Part 2)

Morgan Lewis on

In Part 1, we discussed how, despite widespread usage, termination in the event of bankruptcy clauses (“ipso facto” clauses) are generally unenforceable pursuant to the bankruptcy code. In this second part, we discuss why...more

Morgan Lewis

Contract Corner: Termination in the Event of Bankruptcy Clauses Are Generally Unenforceable (Part 1)

Morgan Lewis on

Practically all commercial transactions, including licenses, services agreements, and supply agreements, contain a provision that triggers termination rights, without notice, to a party whenever the other party files for...more

Dechert LLP

The Enforceability of Ipso Facto Provisions in a Dismissed Chapter 11 Case

Dechert LLP on

Section 365 of the U.S. Bankruptcy Code does not address the legal status of an executory contract that is not assumed or rejected in a chapter 11 proceeding. In such cases where a chapter 11 plan is confirmed, courts adopt...more

K&L Gates LLP

The Limited Liability Company and Bankruptcy Code

K&L Gates LLP on

This K&L Gates Legal Insight highlights certain potential bankruptcy and insolvency issues that clients and legal practitioners should take into account when forming a limited liability company (“LLC”) under state law. These...more

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