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IN RE WEINSTEIN CO. HOLDINGS LLC

Nos. 20-1750 and 20-1751.

997 F.3d 497 (2021)

IN RE: WEINSTEIN COMPANY HOLDINGS LLC, et al., Debtors. Spyglass Media Group, LLC, f/k/a Lantern Entertainment LLC v. Bruce Cohen Productions; Bruce Cohen, Appellants in 20-1751 Bradley Cooper; 22nd & Indiana, Inc.; Bruce Cohen; Bruce Cohen Productions; Robert De Niro; Canal Productions, Inc.; David O. Russell; Kanzeon Corp.; Jon Gordon; Jon Gordon Productions, Inc., Appellants in 20-1750.

United States Court of Appeals, Third Circuit.

Opinion filed: May 21, 2021.

Attorney(s) appearing for the Case

Angela M. Butcher (Argued), Michael I. Gottfried , Roye Zur, Elkins, Kalt, Weintraub, Reuben, Gartside, 10345 West Olympic Boulevard, Los Angeles, CA 90064, Kevin S. Mann , Christopher P. Simon , Cross & Simon, 1105 North Market Street, Suite 901, P.O. Box 1380, Wilmington, DE 19899, Counsel for Appellants.

Thomas R. Califano (Argued), Sidley Austin, 787 Seventh Avenue, New York, NY 10019, R. Craig Martin, Esq. , DLA Piper, 1201 North Market Street, Suite 2100, Wilmington, DE 19801, Counsel for Appellee.

Anne M. Collart , William P. Deni, Jr. , Lawrence S. Lustberg , Gibbons, One Gateway Center, Newark, NJ 07102, Counsel for Amicus Appellant Producers Guild of America Inc.

Before: AMBRO, KRAUSE, and PHIPPS, Circuit Judges.

OPINION OF THE COURT

The Chapter 11 bankruptcy process gives a debtor many means to rehabilitate its business, including several to manage contractual obligations. Chief amongst them is the flexibility to assume (i.e., continue) or reject (i.e., breach) executory contracts, which are contracts where...

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