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.
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.
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