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Debtor's Power to Reject Executory Contract Trumps Counter-Party Debtor's Power to Assume Same Agreement
Among the various rights and protections afforded by the Bankruptcy Code to a debtor-in-possession, one of the most potent is the debtor's broad authority to assume or reject existing executory contracts and unexpired leases. Indeed, this power is one of the most useful tools available to a debtor, and in certain cases, it can be a major or even a primary reason for the bankruptcy filing.
The expansive ability granted to debtors to assume or reject existing executory contracts is premised on the policy that debtors should have the ability to abandon burdensome obligations while retaining favorable ones ' all with the overriding goal of rehabilitation in mind.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.