Bankruptcy Court Enforces Anti-Assignment Clause and Rejects Assignee’s Proof of Claim

Barry Klayman, a member of Cozen O’Connor’s Commercial Litigation and Bankruptcy, Insolvency & Restructuring Practice Groups, and Mark Felger, co-chair of the Bankruptcy, Insolvency & Restructuring Practice Group, co-authored an article in the Delaware Business Court Insider discussing a recent case from the Delaware Bankruptcy Court holding that an anti-assignment clause in a promissory note was enforceable under Delaware law, that the issuer’s prior breach did not render the anti-assignment clause unenforceable, and that sustaining the issuer debtor’s objection to the proof of claim filed by the assignee of the note would not disrupt the bankruptcy claims trading market. To read the article, click here.

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Mark E. Felger

Co-Chair, Bankruptcy, Insolvency & Restructuring

(302) 295-2087

Barry M. Klayman

Of Counsel

(302) 295-2035

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