Executory Contracts in Business Bankruptcy
- June 9, 2015
- Thomas Adam
- Bankruptcy
Business Bankruptcy Business bankruptcy, typically filed under Chapter 11 of the bankruptcy code, present a host of unique issues. One of those issues is what happens to executory contracts. What is an executory contract? Even though it has a large statutory section dedicated to them, the Bankruptcy Code does not explicitly define what an executory contract is. However, courts routinely define such contracts in the same way. Essentially, an executory contract is one where both parties [...]