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1. • • Furthermore, specific provisions in the Bankruptcy Code, such as Section 365 (e), explicitly prohibit terminating a contract solely because of a debtor's bankruptcy or insolvency. This legal structure is crucial for protecting the debtor's assets and facilitating the successful rehabilitation of the debtor within the bankruptcy process.
     www.talksonlaw.com/briefs/termination-on-bankruptcy-in-contracts

     Termination for Bankruptcy Myth - TalksOnLaw

2. People also ask

   Can a contract be terminated if a bankruptcy case is filed?

   • 11 U.S.C. §541 (c). Translated from bankruptcy-ese, this statute means that a clause that terminates a contract because of the "insolvency" or "financial condition" of the debtor, or due to the filing of a bankruptcy case, will be unenforceable once a bankruptcy case has been filed.

   Are “Termination On Bankruptcy” Contract Clauses Enforceable?

   bankruptcy.cooley.com/2007/09/articles/business-bankruptcy-issues/are-termination-on-bankruptcy-contract-clauses-enforceable/

   See all results for this question

   What happens if a contracting party goes bankrupt?

   • The bankruptcy or insolvency of either party is frequently a termination trigger. However, when the financial condition of only one contracting party is in doubt, the more financially stable party may insist on a one-sided provision allowing it to get out of the agreement upon the weaker party’s insolvency or bankruptcy.

   Are “Termination On Bankruptcy” Contract Clauses Enforceable?

   bankruptcy.cooley.com/2007/09/articles/business-bankruptcy-issues/are-termination-on-bankruptcy-contract-clauses-enforceable/

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   Can you break a contract if you file bankruptcy in Canada?

   • One of the least known aspects of bankruptcy law in Canada is that when you file bankruptcy you may break any contract you have as part of the restructuring of your financial situation.

   Cancelling Contracts As Part Of Your Bankruptcy

   bankruptcy-canada.com/bankruptcy-blog/cancelling-contracts-as-part-of-your-bankruptcy/

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   Can a contract be terminated if a counterparty is insolvent?

   • A brief summary of the principles, recent developments and practical tips relating to terminating contracts upon a counterparty’s insolvency. Common law provides no right of termination in the event of insolvency or financial difficulty. The situation must therefore be prescribed for expressly in the contract.

   Developments in contract: Termination on insolvency

   www.simmons-simmons.com/en/publications/ck0bc7qzvo1g50b85zxqvbkbj/161118-developments-in-contract-termination-on-insolvency

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   Can an ipso facto agreement be terminated if no bankruptcy case is filed?

   • If an ipso facto provision provides that the agreement terminates upon a party’s insolvency, and no bankruptcy case is ever filed, it’s possible that the solvent party could terminate the agreement using the ipso facto provision.

   Are “Termination On Bankruptcy” Contract Clauses Enforceable?

   bankruptcy.cooley.com/2007/09/articles/business-bankruptcy-issues/are-termination-on-bankruptcy-contract-clauses-enforceable/

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   Can a supplier terminate a contract if a company is insolvent?

   • Amongst legislation proposed is a prohibition on the enforcement of clauses in contracts which allow for termination triggered by a party entering a formal insolvency process, with a view to preventing a supplier from undermining the company’s chance to restructure or be sold as a going concern.

   Developments in contract: Termination on insolvency

   www.simmons-simmons.com/en/publications/ck0bc7qzvo1g50b85zxqvbkbj/161118-developments-in-contract-termination-on-insolvency

   See all results for this question

3. bankruptcy-canada.com › bankruptcy-blog › cancellingCancelling Contracts As Part Of Your Bankruptcy

   bankruptcy-canada.com › bankruptcy-blog › cancelling

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   One of the least known aspects of bankruptcy law in Canada is that when you file bankruptcy you may break any contract you have as part of the restructuring of your financial situation.

4. bankruptcy.cooley.com › 2007 › 09Are “Termination On Bankruptcy” Contract Clauses Enforceable?

   bankruptcy.cooley.com › 2007 › 09

   • Cached

   Apr 1, 2019 · Translated from bankruptcy-ese, this statute means that a clause that terminates a contract because of the "insolvency" or "financial condition" of the debtor, or due to the filing of a bankruptcy case, will be unenforceable once a bankruptcy case has been filed.

5. Videos

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6. www.simmons-simmons.com › en › publicationsDevelopments in contract: Termination on insolvency

   www.simmons-simmons.com › en › publications

   • Cached

   • Principles
   • Recent Developments
   • What This Means

   Common law provides no right of termination in the event of insolvency or financial difficulty. The situation must therefore be prescribed for expressly in the contract.

   See full list on simmons-simmons.com

   On 26 August 2018, the Government published a response to its 2017 consultation on Insolvency and Corporate Governance and its 2016 Review of the Corporate Insolvency Framework. The aim of these co...

   See full list on simmons-simmons.com

   Efforts aimed at maximising the chances of rescuing businesses who rely upon contracts to continue to trade are clearly necessary and welcome. However, the devil will be in the detail of the legisl...

   See full list on simmons-simmons.com

7. www.bclplaw.com › a › webI. Enforceability of “Termination on Bankruptcy” or Ipso ...

   www.bclplaw.com › a › web

   Termination on bankruptcy, or ipso facto clauses, are contract terms “according to which the insolvency of a party automatically terminates the contract or constitutes a material breach.”1 These clauses therefore purport to automatically terminate or give the non-debtor party the right to terminate the contract if some specified triggering event...

8. content.next.westlaw.com › practical-law › documentTermination of Contracts with an Insolvent Company

   content.next.westlaw.com › practical-law › document

   This Note reviews the circumstances in which non-defaulting parties can terminate a contract with an insolvent debtor, including one who is in receivership, bankruptcy or restructuring under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36 or the Bankruptcy and Insolvency Act, R.S.C., 1985, c. B-3.

9. ca.practicallaw.thomsonreuters.com › 5/559/4767Contracts: termination | Practical Law - Thomson Reuters

   ca.practicallaw.thomsonreuters.com › 5/559/4767

   A practice note outlining the law on terminating a contract under a termination clause and at common law. It discusses repudiatory breach and other common termination events, including insolvency. It also considers which contracts can be terminated by reasonable notice under an implied term.

10. lawjournal.mcgill.ca › article › the-treatment-ofThe Treatment of Ipso Facto Clauses in Canada - McGill Law ...

    lawjournal.mcgill.ca › article › the-treatment-of

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    Parties, however, can use ipso facto clauses to preserve certain contractual rights in the event that one of the contracting parties has entered into bankruptcy or insolvency proceedings, including the right to terminate the contract.