Get the free Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases

This document is a motion filed in bankruptcy court by Robb & Stucky Limited LLLP, seeking the approval to reject certain executory contracts and unexpired leases due to financial constraints and

How to fill out debtors emergency omnibus motion

How to fill out Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases

1. Begin by reading the detailed instructions for filling out the motion to ensure understanding of requirements.
2. Gather all relevant information about the executory contracts and unexpired leases you wish to reject.
3. Complete the case caption at the top of the motion form, providing the names of the debtor, the case number, and the court information.
4. Clearly list each executory contract and unexpired lease you wish to reject, including relevant details such as the parties involved and the effective dates.
5. Provide a brief explanation for each contract or lease indicating why rejection is necessary and beneficial to the debtor’s estate.
6. Include a certification of service, ensuring that all necessary parties are notified of the motion.
7. Sign and date the motion, verifying all provided information is accurate to the best of your knowledge.
8. File the completed motion with the bankruptcy court as per local rules and procedures.

Who needs Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases?

1. Debtors in a bankruptcy proceeding who are seeking to reject non-essential or burdensome contracts and leases to streamline their financial obligations.

People Also Ask about

Are executory contracts enforceable?

The short answer is yes, they are enforceable unless there are valid legal reasons to terminate or modify them. Executory contracts remain legally binding until all parties fulfill their obligations. However, specific circumstances or legal principles might come into play that could impact their enforceability.

What is the rejection of an executory contract?

Ala. 1995) (Bankruptcy courts must approve a debtor's decision to assume or reject an executory contract "unless there is bad faith or a gross abuse of discretion." In other words, the court must decide "whether the decision of the debtor is so manifestly unreasonable that it could not be based on sound business

What is a motion to assume or reject an executory contract?

Under Federal Rule of Bankruptcy Procedure 6003, a Motion to Assume or Reject an Executory Contract or Unexpired Lease under Section 365 cannot be granted within 21 days of the filing of the petition unless relief is necessary to avoid immediate and irreparable harm.

Does rejection terminate a contract?

Key Takeaways. Rejection in contract law occurs when an offeree declines an offer, rendering it void and unenforceable. Rejection can be expressed explicitly or implied through counteroffers. Revocation, rejection, and expiration are key methods of offer termination.

Can an executory contract be rescinded?

The Bankruptcy Code, 11 U.S.C. § 365, provides that, subject to court approval and certain limitations discussed below, debtors can assume or reject any executory contract or unexpired lease.

What happens when an executory contract is rejected?

In a bankruptcy case, the debtor can either retain the contract (and cure any default) or reject it, with rejection treated as a pre-petition breach and any damages becoming a general unsecured claim.

Can an executory contract be rescinded?

The Bankruptcy Code, 11 U.S.C. § 365, provides that, subject to court approval and certain limitations discussed below, debtors can assume or reject any executory contract or unexpired lease.

What does executory contracts and unexpired leases mean?

Executory contracts are those in which both parties still have significant remaining performance obligations. Examples are supply contracts, purchase agreements, employment contracts and service contracts. Unexpired leases are those in which the tenant and has remaining occupancy rights and lease payments.

For pdfFiller’s FAQs

What is Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases?

Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases is a legal document filed by a debtor in bankruptcy proceedings to request the court's permission to reject certain contracts and leases that are burdensome or unprofitable, typically to help facilitate the overall restructuring process.

Who is required to file Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases?

The debtor in possession, typically the business or individual that has filed for bankruptcy, is required to file the Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases.

How to fill out Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases?

To fill out the motion, the debtor must provide details of the contracts or leases they wish to reject, grounds for the rejection, and any supporting evidence or documentation that justifies the request. Additionally, the motion must follow the specific format and guidelines set by the bankruptcy court.

What is the purpose of Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases?

The purpose of the motion is to allow the debtor to eliminate contracts and leases that are detrimental to their financial recovery, thus enabling them to focus on viable business operations post-bankruptcy.

What information must be reported on Debtor’s Emergency Omnibus Motion to Reject Executory Contracts and Unexpired Leases?

The motion must report the names of the parties to the contracts or leases, a description of the contracts or leases, the reasons for rejection, and any relevant financial implications resulting from the rejection.