This document addresses the question of Bankruptcy in pre-1989 agrements, stating specifically that the granting of relief under the Bankruptcy Code to any Party to this Agreement as debtor, this Agreement should be held to be an executory contract under the Bankruptcy Code, then any remaining Party shall be entitled to a determination by debtor or any trustee for debtor within thirty (30) days.
North Carolina Bankruptcy Pre 1989 Agreements
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US-OG-696
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How to fill out Bankruptcy Pre 1989 Agreements?
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Modern Bankruptcy Act - Nelson Act The current Bankruptcy Code was enacted in 1978 by § 101 of the Bankruptcy Reform Act of 1978, and generally became effective on October 1, 1979. The current Code completely replaced the former Bankruptcy Act, the ?Chandler Act? of 1938.
Rule 2004 of the Federal Rules of Bankruptcy Procedure allows any "interested person" to require someone else to testify and produce documents on matters related to your bankruptcy. The 2004 Exam can cover a broad range of issues, including: your actions, conduct or property. your debts and financial condition.
The most common types of nondischargeable debts are certain types of tax claims, debts not set forth by the debtor on the lists and schedules the debtor must file with the court, debts for spousal or child support or alimony, debts for willful and malicious injuries to person or property, debts to governmental units ...
Cure Amounts means all amounts, costs and expenses required by the Bankruptcy Court to cure all defaults and other amounts outstanding under the Assumed Contracts and Additional Assumed Contracts to the extent required so that they may be assumed by the applicable Selling Entities and assigned to Buyer pursuant to ...
Assumption enables a debtor to retain in full force those contracts and leases it believes are favorable to it. Assumption is the opposite of ?rejection? of an executory contract or unexpired lease where a debtor opts to no longer perform (see Rejection of Executory Contracts and Unexpired Leases).
A debtor may reject an executory contract or unexpired lease by motion or operation of a chapter 11 plan. In larger bankruptcy cases, rejection notices often contain schedules listing numerous contracts to be rejected in a single pleading.
If a contract or agreement is not executory, it may be neither assumed nor rejected. Instead, the contract may give rise to either an estate asset or a liability?in the latter case, a claim that may be asserted against the estate by the non-debtor party.
A landlord whose lease is rejected pursuant to section 365 of the Bankruptcy Code can assert a general unsecured claim comprised of prepetition arrearages plus ?rejection damages.? The ?rejection damages? portion of the claim is subject to a statutory cap equal to the greater of rents due for (i) one year; or (ii) 15% ...
