Contract obligations in bankruptcy permit parties to seek discharge or damages via adjudicating authority; damages provable as debt. Parties to contracts made before the bankruptcy commencement date may apply to the Adjudicating Authority for an order discharging obligations of the applicant or the bankrupt and for payment of damages for non performance; damages ordered against the bankrupt are provable as bankruptcy debt, and a co contracting non bankrupt party may sue or be sued without joinder of the bankrupt.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Contract obligations in bankruptcy permit parties to seek discharge or damages via adjudicating authority; damages provable as debt.
Parties to contracts made before the bankruptcy commencement date may apply to the Adjudicating Authority for an order discharging obligations of the applicant or the bankrupt and for payment of damages for non performance; damages ordered against the bankrupt are provable as bankruptcy debt, and a co contracting non bankrupt party may sue or be sued without joinder of the bankrupt.
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