Triangle USA: Post-Effective Date Assumption or Rejection

Triangle USA: Post-Effective Date Assumption or Rejection
Adam H. Isenberg and Monique Bair DiSabatino
ABI Journal

Adam Isenberg and Monique Bair DiSabatino, members of Saul Ewing’s Bankruptcy and Restructuring Practice, authored this article on how the ruling in Triangle USA Petroleum Corp.’s bankruptcy case may be used as a precedent to justify the use of post-confirmation conditional assumptions or rejection of an executory contract or unexpired lease in a plan. The article explains that while Triangle USA is a bench ruling, it raises questions about how executory contracts and unexpired leases can be provided for in bankruptcy plans, and how debtors can create provisions to assume or reject contracts, post-confirmation, on a conditional basis.

To read the full article, click here.