A decision by the Third Circuit Court of Appeals serves as a stark reminder that the sale (assignment) of a contract in bankruptcy does not always require full payment of the non-debtor counterparty’s claim.
Debtors must...more
New York bankruptcy court cautions against liquidated damages provisions that are “invariant to the gravity of the breach.”
Liquidated damages provisions must be based on a “causal link” between the anticipated harm and...more
7/11/2019
/ Aircraft ,
Aircraft Financing ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Commercial Leases ,
Contract Terms ,
Default ,
Executory Contracts ,
Financial Guarantee Requirements ,
Liquidated Damages ,
Reasonableness Factors ,
Unenforceable Contract Terms ,
Uniform Commercial Code (UCC)