Cession Agreementassignment agreement
Do not use any assignment clause - they survive the winding up.
Good reason to include a no-cession provision in a treaty. On the one hand, it is legally bound for a fiduciary or liquidity provider of the bankrupt loan. Any and all personality privileges may be assigned on a voluntary basis, unless they are of a purely individual character and are required to be fulfilled by a particular individual (e.g. labour contracts).
However, any right of assignment may be limited by an agreement not to assign the right. When this limitation is included in the agreement that covers the right (e.g. in a lease), the right is always prohibited from assignment, as the right is established as non-transferable right.
However, if you try to prevent the assignment of a right in a later agreement, it is no longer mandatory after bankruptcy, as you cannot hold the property out of the hand of a fiduciary or administrator in this way. Borne Free Investments 364 (Pty) Limited is alleged to have assigned two receivables from FirstRand Bank of two liquidated entities.
Receivables are due from a credit agreement between the wound up company and the Group. It was clear in the terms of the agreement: "You may neither transfer your interests nor transfer your duties under this agreement without our previous agreement in writing". There was no agreement from the banks to the transfer by the company wind up.
This action was unsuccessful before the highest appellate tribunal because the assignments were inadmissible. At the time the credit contracts are signed, the creditors' entitlements should not be transferrable. Liquefied entities were not authorized to assign the interests and therefore could not grant the claimant, Borne Free Investments 364, more interests than they themselves had (i.e. none).
So if you want the benefits of your agreement to be non-transferable after bankruptcy, keep in mind to incorporate the "no-cession" provision in the agreement itself and not in a distinct "no-cession" agreement. No cession should always be incorporated into a treaty, unless there is a good cause not to do so.