'Hypothetical Test' Takeaways From Trump Entertainment
Law360, New York ( March 30, 2015, 10:48 AM EDT) -- Section 365(c)(1) of the Bankruptcy Code limits a debtor's ability to assume or assign a contract where "applicable law" excuses a nondebtor counterparty from accepting performance from a third party. Circuits currently are split on whether this section prohibits a debtor from assuming an intellectual property license without the consent of the licensor....
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