Case Study: In Re XMH Corp.

Law360, New York (January 27, 2012, 3:43 PM EST) -- Two fundamental goals of Chapter 11 of the Bankruptcy Code are rehabilitating a debtor's business and maximizing the value of the debtor's estate for the benefit of various stakeholders. In serving these goals, section 365(a) of the Bankruptcy Code allows a bankruptcy trustee or Chapter 11 debtor in possession, subject to certain exceptions and the prerequisite to cure defaults and to provide adequate assurance of future performance, to assume and/or assign beneficial executory contracts and unexpired leases and to reject burdensome contracts and leases.

U.S. bankruptcy...
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