By Frank Grese and Reginald Sainvil (June 23, 2022, 5:52 p.m. EDT) — The U.S. District Court for the Southern District of New York recently upheld a bankruptcy court ruling that demonstrates the importance of meaningful disclosure to a bankruptcy court and to the parties for the benefit of any material modification of an asset purchase agreement in the event of bankruptcy.
Although the district court focused on the main contractual dispute at issue, the underlying bankruptcy court decision highlighted the importance of meaningful disclosure of changes to an asset purchase agreement , as the historical context may be a factor if a dispute arises later between a debtor and a buyer.
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