GCK On Law
Treatment of License Agreements under Bankruptcy Code Section 365
An executory contract, within the meaning of Section 365 of the Bankruptcy Code, is a contract whereby “‘performance remains due to some extent on both sides.’” N.L.R.B. v. Bildisco & Bildisco, 465 U.S. 513, 522 n.6, 104 S. Ct. 1188, 1194 n.6 (1984) (quoting H.R....
A Partially Disputed Claim May Be Subject To A Bona Fide Dispute per Section 303(b)(1)
Section 303(b)(1) of the Bankruptcy Code provides in relevant part that “[a]n involuntary case against a person is commenced by the filing with the bankruptcy court of a petition under chapter 7 or 11 of this title – (1) by three or more entities, each of which is * *...
Application of Section 523(a)(3) in No Asset Bankruptcy Cases
Section 523(a)(3) of the Bankruptcy Code states in relevant part as follows: (a) A discharge under [chapter 7] * * * does not discharge an individual debtor from any debt - * * * * (3) listed nor scheduled * * * in time to permit - (A) if such debt is not of a kind...
Conflict in the Intent Requirement of Section 727(a)(2)
Section 727(a)(2)(A) of the Bankruptcy Code states: (a) The court shall grant the debtor a discharge, unless– (2) the debtor, with intent to hinder, delay, or defraud a creditor or an officer of the estate charged with custody of property under this title, has...
Conflict as to Whether the Automatic Stay Tolls Statutory Redemption Periods
Courts are divided as to whether statutory redemption periods are stayed by Section 362(a) of the Bankruptcy Code. There are also competing views as to whether the tax purchaser holds a claim treatable in bankruptcy, e.g., through a Chapter 11 or 13 plan. This...