kaal:claim:3017612-027

A buy-sell agreement survives bankruptcy more reliably when it is not merely executory: because bankruptcy trustees may void executory agreements, an agreement that obliges both the shareholders and the entity to buy and sell is more likely to be enforced.

Under US Law, bankruptcy trustees may void any agreement that is "executory," so to the extent a buy-sell agreement requires shareholders and the entity to buy and sell, it is more likely to survive bankruptcy.

Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017), III.4 Shareholders' Agreements in pre-insolvency situation, p. 14
https://ssrn.com/abstract=3017612 · source PDF

Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612

• shareholder becomes insolvent or enters bankruptcy

mechanismsupport: arguedfailure: executory-buy-sell-avoided-in-bankruptcyfamily: enforcement-gapsystemic-risk

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