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Home / Opinion Digests / Bankruptcy – Circuit City – Executory Contract – Assumption (access required)

Bankruptcy – Circuit City – Executory Contract – Assumption (access required)

A Richmond U.S. District Court says debtor Circuit City cannot be compelled to assume an executory contract to provide Circuit City review of certain tax matters in Hawaii on a contingency-fee arrangement, as debtor’s decision not to assume the contract passes muster under the “business judgment” rule. Pursuant to the contract with Ryan Inc., Ryan ...