In a recent decision of interest to the leasing community, the U.S. District Court of Maryland has held that a Chapter 11 debtor could assume a software license agreement (SLA),
Debtor May Assume License as Executory Contract Despite Anti-Assignment Language
In a recent decision of interest to the leasing community, the U.S. District Court of Maryland has held that a Chapter 11 debtor could assume a software license agreement (SLA), as an executory contract, although the agreement contained a clause that the debtor could not "assume or assign" the agreement, and even though the assignability of the SLA was clearly precluded by federal copyright law.
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