Section 365(a) of the Bankruptcy Code permits a Chapter 11 debtor to assume or reject an unexpired executory
contract or lease, subject to court approval.
be rejected as executory
contracts, pursuant to [section] 365, (28) as
Capital leases create a tangible asset and debt that survive bankruptcy; on the other hand, executory
contract leases (formerly operating leases) create unique intangible assets and liabilities (nondebt in bankruptcy) that only exist to a going concern.
For the lessee, FASB and the International Accounting Standards Board (the boards) have proposed a right-of-use model that is a hybrid form of the executory
The Bankruptcy Code allows a debtor to assume an executory
contract subject to certain conditions.
Notwithstanding a provision in an executory
Most lease transactions provide for the payment by one of the parties of executory
costs such as insurance, maintenance and taxes in connection with the leased property.
In line with the tax amnesty rates, delinquent accounts and assessments, which have become final and executory
, were set a rate of 40 percent of the basic tax assessed; those tax cases subject of final and executory
, judgment by the courts at 50 percent of the basic tax assessed; those with pending criminal cases filed with the DOJ, 60- percent rate of the basic tax assessed; and 100 percent of the basic tax assessed for withholding agents who withheld taxes but failed to remit the same to the BIR.
Under the guidelines, qualified applicants with delinquent accounts covering taxable year 2017 and prior years and assessments that have become final and executory
will pay only 40 percent of the basic tax assessed.
15, 2018 could no longer be subject of ordinary appeals because dismissal of administrative case is considered final and executory
under the Rules of the Ombudsman.
9 December 2016 - US-based iron ore concentrate and pellet producer Magnetation LLC has filed a motion with the US Bankruptcy Court seeking authority to enter into an asset purchase agreement that provides for the sale and transfer of substantially all of its remaining assets and certain liabilities along with the assumption and assignment of certain executory
contracts and leases in connection with a sale to ERP Iron Ore, LLC through a credit bid by the company's post-petition lenders.
Bankruptcy Court has passed an order (a) approving and authorizing (i) the asset acquisition deal to buyer Red Bluff Resources Operating; (ii) the selling of the Debtors' assets free and clear of all liens, claims, encumbrances and interests and (iii) the assuming and assigning of certain executory
deals and unexpired leases and (b) granting related relief.