Special Considerations for Assumption, Assignment, and Rejection of Certain Executory Contracts


Summary

This practice note discusses the conditions and requirements for assuming, assigning, and rejecting certain executory contracts and unexpired leases under the Bankruptcy Code, including shopping center leases, intellectual property agreements, aircraft equipment and vessel leases, and agreements with retired employees. Section 365 of the Bankruptcy Code provides the general rules concerning the disposition of executory contracts and leases. Other sections of the Bankruptcy Code contain additional, and in some cases different, rules for debtors that are parties to these types of contracts.