Bankruptcy debtors have special rights in contracts or leases where both parties have outstanding obligations, known in legal terms as “executory contracts” or “unexpired leases”. If you are doing business with a company that...more
11/18/2024
/ Bankruptcy Code ,
Bankruptcy Trustees ,
Breach of Contract ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Executory Contracts ,
Insurance Contracts ,
Liquidation ,
Non-Debtors ,
Reorganizations ,
Trustees
In bankruptcy, certain specified types of debts are forgiven or “discharged”, releasing the debtor from personal liability for those debts. Debt discharges are permanent, and when granted, the debtor is no longer required to...more