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Circuit Court Ruling on Nonmonetary Defaults Sets Up Conflict Over Bankruptcy Code
A recent circuit court decision regarding the interpretation of section 365 of the Bankruptcy Code has set up a conflict between two circuits. On March 15, 2004, the Court of Appeals for the First Circuit issued an opinion regarding whether bankruptcy debtors are required to cure nonmonetary defaults prior to assuming unexpired leases under section 365 of the Bankruptcy Code, 11 U.S.C. '365. In re Bankvest Capital Corp. (Eagle Insurance Co. v. Bankvest Capital Corp.), 360 F.3d 291 (1st Cir. 2004). The First Circuit found ' expressly contrary to a holding of the Ninth Circuit Court of Appeals ' that debtors are not required to cure such defaults, resulting in a split in the circuits over a very widely used section of the code.
Bankruptcy Code Section 365
The Bankvest case involved interpretation of Bankruptcy Code section 365(b)(2)(D). This subsection is part of a larger provision of the Bankruptcy Code, section 365, which permits a debtor to assume or reject executory contracts or unexpired leases that the debtor had entered into prior to bankruptcy. What constitutes an executory contract (including an unexpired lease) under the Bankruptcy Code has been the subject of a great deal of litigation and commentary over the years. Perhaps the most often quoted definition is “a contract under which the obligations of both the bankrupt and the other party to the contract are so far unperformed that the failure of either to complete performance would constitute a material breach excusing performance of the other.” Gallivan v. Springfield Post Rd. Corp., 110 F.3d 848, 851 (1st Cir. 1997).
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.