Executory Contracts and Leases in Bankruptcy: Strategies for Non-Debtors
Anticipating Insolvency; Drafting and Transactional Issues; Pre- and Post-Petition Options; Maximizing Section 365 Protections
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will provide strategies and practical guidance for insolvency practitioners representing non-debtors regarding executory contracts and leases with financially troubled counterparties both before and during bankruptcy proceedings.
- Overview: Getting ready for the next cycle
- Current trends and forecasts
- Definition of executory contract
- Bankruptcy code Section 365: Assumption, assignment and rejection
- Drafting executory contracts
- Default and termination provisions
- Payment provisions
- Collateral and guarantees
- Multiple agreements
- Language conditioning continued performance on other party's strict performance
- Interest and attorneys' fees
- Recoupment and setoff provisions
- Financial covenants
- Structuring contracts
- Leases: Drafting and transactional considerations
- Strategies before bankruptcy
- Terminate the contract
- Grant waivers
- Monitor solvency
- Protective payment methods
- LOCs and guaranties
- Avoid preference liability
- Strategies in bankruptcy
- Compelling a decision
- Adequate protection
- Relief from automatic stay
- Administrative claims
- Examination of the debtor
- Final considerations
The panel will review these and other vital questions:
- What drafting and transactional strategies can counsel employ to protect client interests if bankruptcy occurs?
- How do federal courts define executory contracts?
- What particular issues do real property leases trigger in bankruptcy?
- Can a post-petition event alter a contract's executory status?
- What protections does Section 365 afford to non-debtors?
Michael T. Delaney
Mr. Delaney represents and advises corporate and individual debtors, creditors, committees, and fiduciaries in a... | Read More
Mr. Delaney represents and advises corporate and individual debtors, creditors, committees, and fiduciaries in a variety of distressed financial situations, including Chapter 9 and Chapter 11 bankruptcy proceedings, receiverships, assignments for the benefit of creditors, and out-of-court workouts. He frequently speaks on insolvency-related issues and contributes articles to several publications relating to insolvency, creditors' rights, commercial law, and IP law.Close
Hughes Hubbard & Reed
Mr. Gartman’s practice is focused on bankruptcy, restructuring and commercial litigation. His diverse practice... | Read More
Mr. Gartman’s practice is focused on bankruptcy, restructuring and commercial litigation. His diverse practice includes the representation of financial institutions, debtors and creditors in a wide range of matters, including asset sales and acquisitions, in- and out-of-court restructurings, as well as lender liability, breach of contract, tort and avoidance actions.Close
Craig R. Tractenberg
Mr. Tractenberg is a skilled international litigator who handles complex business disputes involving intellectual... | Read More
Mr. Tractenberg is a skilled international litigator who handles complex business disputes involving intellectual property, licenses, business torts and insolvency issues. He regularly structures new franchise programs, many of which are international. Mr. Tractenberg also defends and enforces franchise agreements. He has also served as special counsel to franchise companies.Close