Ch. 11 Ruling offers lessons to avoid dismantling the deal

By Lisa Tancredi (March 11, 2022, 12:31 PM EST) — Drafting a two-pronged transaction — say, a license and a lease — raises a question: one document or two? What about transactions with more than two components? Is there a downside to preparing separate documents for each component?

A recent case from the U.S. Bankruptcy Court for the Northern District of Mississippi, In re: Express Grain Terminals LLC, illustrates how this ruling — using one document or many — can affect a debtor’s ability to dismantle a bankruptcy settlement.[1]

Under Section 365 of the Bankruptcy Code, a debtor may choose to assume or reject each…

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