Hypothetically, Can we Assign this Contract?

After all these years, we are still trying to figure out whether a trustee or DIP may assume or assign a contract that cannot be assigned under applicable law without the non-debtor counterparty's consent. Check out this expertly drafted article discussing a recent bankruptcy court decision addressing whether the actual or hypothetical test should be used to make this determination.

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Related Content

• Assumption, Assignment, and Rejection of Executory Contracts
  Read about the requirements for assuming, assigning, and rejecting executory contracts and unexpired leases under Section 365 of the Bankruptcy Code.

• Drafting Strategies for Nondebtor Parties to Executory Contracts
  Review these prepetition drafting strategies for nondebtor parties to executory contracts, including IP agreements.

• Intellectual Property Agreements: The Assumption/Rejection Risk
  See this practice note for an overview of the treatment of intellectual property agreements in bankruptcy.

• Bankruptcy Litigation Resource Kit
  Use this resource kit for material on litigating disputes in bankruptcy cases.

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