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Second Circuit: Bankruptcy Code's Lease Assumption and Assignment Provisions Apply Only to "True Leases"

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The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume and assign executory contracts and unexpired leases is an invaluable tool for generating value for a bankruptcy estate to pay creditor...more

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Force Majeure Clause Triggered by Pandemic Shutdown Order Partially Relieves Chapter 11 Debtor from Timely Paying Postpetition...

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With their doors closed by mandatory government shutdown orders in effect until most states started gradually reopening in May and June, many businesses have found it difficult or impossible to satisfy their lease obligations...more

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