Executory Contracts and Leases: Overview | Practical Law
A Practice Note providing a general background on the treatment of executory contracts and leases in bankruptcy, including how to identify executory contracts and leases in the context of bankruptcy and the debtor's options to assume, assign, and reject these contracts and leases. This Note also discusses the effect of each alternative on the non-debtor, the issue of timing, and the performance obligations of each party pending a decision by the debtor.