A bankruptcy trustee or DIP generally has the right to "assume" (reaffirm) or "reject" (disavow, resulting in breach) unexpired leases under section 365(a) of the Bankruptcy Code. 11 U.S.C. § 365(a).
When financial troubles mount and debts are piling up, filing for bankruptcy protection may be a last resort option. Personal bankruptcy filings usually involve Chapter 7 or Chapter 13, but when ...
U.S. Bankruptcy and appellate courts have long wrangled over whether the provisions of the Bankruptcy Code apply extraterritorially to permit, for example, enforcement of the automatic stay to ...