Stanley Jacobs Prod., Ltd. v. 9472541 Can. Inc. (In re Thane Int'l, Inc.)

Re: Adv. D.I. No. 32

KEVIN GROSS, U.S.B.J.

INTRODUCTION

The adversary proceeding is a peculiar one that presents the Court with an opportunity to discuss the fundamental elements of assumption of executory contracts under the Bankruptcy Code. In its simplest form, the issue before the Court is whether an executory contract that was neither affirmatively assumed nor rejected was included and assigned in a sale transaction.

On October 16, 2015, Bank of Montreal, as syndication agent and administrative agent for itself, National Bank of Canada and HSBC Bank of Canada as lenders (collectively, the…