Dealing with a Purchaser or Seller in Bankruptcy?

Entering into purchase-sale agreements (PSAs) with buyers or sellers filing for bankruptcy involves certain risks. One concern is that bankruptcy trustees may seek to void transfers of the seller-debtor’s property. As for purchasers in bankruptcy, trustees commonly reject PSAs unless the contract can be assigned to a third party. Refer to this mega chapter 11 filings tracker for recent bankruptcy filings of cases involving $100 million or more, or 1000 or more creditors, or that hold a high degree of public interest.

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