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ARIZONA’S NEW RECEIVERSHIP STATUTE: REVIEWED, INTERPRETED AND APPLIED©, PART XVII

Leases and Executory Contracts. The Act also vests receivers with significant new powers relating to existing leases and executory contracts which provides another possible benefit for lenders from a receivership.  A receiver may “adopt or reject an executory contract,” which includes leases under the definition of “executory contract” in Section 33-2601(4), with court approval.   …

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