The TAD can be availed if the assessments have become final and executory
at the BIR and judicial levels.
instruments, these lease contracts registered with the competent department at the Abu Dhabi Municipality, guarantee promptness in reverting the rights to their due owners and saves a lot of time and effort," Al Abri pointed out.
Contracts and the Contact Assumption Defense
Pension Plans May Be Rejected as Executory
Subsequent accounting involves independently accounting for the asset and liability, breaking apart the unified nature of the contract For "Type A" leases (mostly equipment leases, whether capital or executory
, and some real estate leases that have capital lease attributes), the asset is amortized on a straight-line basis and the liability is accounted for using effective interest amortization, which imputes interest expense.
Some critics, however, object to any distinction at all between capital and operating leases because they believe that all executory
contracts should be recognized on the financial statements, preferably at fair value, and that operating leases are an excellent place to start.
Featuring cases through 2009, the remaining 13 chapters address invoking bankruptcy, property of the estate, automatic stay, unsecured and secured claims, relief from stay and adequate protection, executory
contracts, avoiding powers, discharge, exemptions, reorganization, jurisdiction and procedure, and transnational bankruptcy cases.
Some of the topics to be covered in break-out sessions include means testing, section 363 sales, single-asset real estate cases, tax issues, executory
contracts, discharge of debt, and e-discovery issues.
Specifically, the amendments to the code: increase the control that franchisors can exert over the assumption of their executory
franchise agreements; and shorten the time in which the franchisee debtor may assume certain real property leases.
In bankruptcy, however, those laws and contractual provisions may not be recognized or enforced if the partnership or operating agreement of the FLP is found not to be an "executory
The general cited specific examples used at Tinker in both the preparatory and executory
The employees retained legal title to the property; there was no intention to transfer ownership; the sales contracts were executory
in nature, only executed if the property were not sold to a third party within a year; and the employee received any profits beyond the original contract price.
The company has also entered into an asset purchase agreement with IdeaSphere, Inc., Grand Rapids, MI, pursuant to which the company and some of its subsidiaries will sell substantially all of their assets for a purchase price of $65 million in cash, the assumption of $3.7 million of employee and related liabilities of the company and the assumption of substantial amounts of the company's executory
contracts and un-expired leases.
"Bankruptcy offers lots of advantages for nursing homes; for example, a lot of creditors get to cancel leases, under the leases and executory
contracts section of the Code," says Hurst.
In deciding for Boo.com, Bohanon cited section 365f of the bankruptcy laws, which says a landlord cannot "restrict, condition or prohibit a debtor's right to assign an executory
contract or unexpired lease." He cited several cases in which the judge had ruled in favor of a tenant due to section 36Sf.