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romang

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romang

Re: 56Chevy post# 523

Saturday, 06/29/2013 12:40:54 AM

Saturday, June 29, 2013 12:40:54 AM

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Chevy would this save the estate? Or is this not the same?



Effects of contract rejection

If a bankrupt debter rejects an executor contract, the debtor's estate will generally lose any benefit from the contract and will be liabile for damages for the breach, entitling the nondebtor party to file a proof of claim for unsecured prepetition and rejection damages. in other words, the creditor's breach of contract claim will rank below administrative expense claims, priority claims and secured claims.

http://www.lockelord.com/files/News/a33d9012-62df-4b48-8199-6b456916fe74/Presentation/NewsAttachment/a8094f43-fefc-4c76-b6a4-6d3e4ddd94bf/Decommissioning-Plugging.pdf
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