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Article

Jones Day | USA | 13 Oct 2011

History matters: historical breaches may undermine assumption of executory contracts

One of the primary fights underlying assumption of an unexpired lease or executory contract has long been over whether any debtor breaches under the agreement are “curable.” Before the 2005 amendments to the Bankruptcy Code, courts were split over whether historic nonmonetary breaches (such as a failure to maintain cash reserves or prescribed hours of operation) undermined a debtor’s ability to assume the lease or contract.

Article

Arent Fox LLP | USA | 13 Apr 2010

Indenture trustee not required to review substance of SEC filings under 314(a) delivery provisions of indentures

On April 1, 2010, the New York Court of Appeals rejected holders' claims against an indenture trustee that could have meant new and greatly expanded duties and legal liability for indenture trustees.

Article

Baker Donelson Bearman Caldwell & Berkowitz PC | USA | 29 Feb 2008

Retirement plan participants gain rights to sue fiduciaries

On February 20, 2008, the U. S. Supreme Court opened the door for participants in 401(k) and similar plans to sue responsible fiduciaries who breach their responsibilities.

Article

Katten Muchin Rosenman LLP | USA | 10 Aug 2007

Claims of corporate mismanagement dismissed

The District Court for the Southern District of New York dismissed both derivative and direct causes of action asserted against the trustees of an investment company organized as a business trust (the Trust) under Massachusetts law.

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