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ARTICLE · 02 FEBRUARY 2024

BAP: A Settlement Agreement Is Not An Executory Contract

Lewis Brisbois Bisgaard & Smith LLP
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New York Partner Minyao Wang recently co-authored an article for the American Bankruptcy Institute Journal regarding a decision by the Ninth Circuit Bankruptcy Appellate Panel that addressed ...

United StatesInsolvency/Bankruptcy/Re-Structuring
Minyao Wang
Minyao Wang
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New York, N.Y. (January 26, 2024) - New York Partner Minyao Wang recently co-authored an article for the American Bankruptcy Institute Journal regarding a decision by the Ninth Circuit Bankruptcy Appellate Panel that addressed a recurring issue in Chapter 11 cases.

In the article, titled "BAP: A Settlement Agreement Is Not An Executory Contract," Mr. Wang and co-author Vincent J. Roldan of Mandelbaum Barrett PC explored the BAP's ruling in In re Svenhard's Swedish Bakery that a pre-petition settlement under which a creditor agreed to release the debtor in exchange for the completion of a series of payments did not qualify as an executory contract that could be assumed and assigned to a third party in a bankruptcy proceeding.

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