Should a membership agreement governing a debtor’s interest in an LLC be treated as property of the estate or an executory contract? Equally, should a debtor’s economic and non-economic interests in an LLC be treated as property or a contractual right? Can’t make up your mind? Don’t worry—the bankruptcy courts can’t either. Continue reading >>

Recognizing Foreign Proceedings Under the Canadian Bankruptcy and Insolvency Act: Re MtGox Co

November 24, 2014

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Patrick Riesterer and Waleed Malik. Patrick Riesterer is an associate in the Insolvency and Restructuring group of Osler, Hoskin & Harcourt LLP and Waleed Malik is an articling student at Osler. In an increasingly globalized world, courts have had to grapple […]

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Apcoa restructuring scheme of arrangement sanctioned by the English High Court despite being contested – Court of Appeal hearing set for 9/10 December 2014

November 21, 2014

Speed Read Classes – turnover agreement was between creditors and not with the company, so neither it nor lock up changed rights being compromised Even if it had, judge found that rights were not so dissimilar – judge considered at a high level what FMS would suffer on liquidation compared with turnover and found that […]

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Third Quarter Review

November 20, 2014

Our Third Quarter Review covers the latest and greatest developments in the restructuring world in the past quarter and follows hot on the heels of the Inaugural Review published in September to coincide with the fourth anniversary of the founding of the Weil Bankruptcy Blog. And what a fascinating few months it’s been: Judge Drain […]

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Sixth Circuit Says, “I’m With the Underhills!”

November 19, 2014

You might recognize the last name “Underhill” from the 1980’s movie, Fletch. In the movie, the main character, Irwin “Fletch” Fletcher overhears snobby country club member Mr. Underhill speaking rudely to a waiter. To get revenge, Fletch famously tells the waiter he’s “with the Underhills” and proceeds to charge a Bloody Mary, a steak sandwich […]

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Thoughts on a New Age of Consent: What Does Consent Mean with Respect to Stern Claims?

November 18, 2014

“Will you, won’t you, will you, won’t you, won’t you join the dance?” – The Mock Turtle’s Song, Lewis Carroll’s Alice’s Adventures in Wonderland Vinny Gambini: Are you suuuuure? Mona Lisa Vito: I’m positive. – My Cousin Vinny By now, readers of the Weil Bankruptcy Blog should be familiar with the myriad issues raised in […]

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Crumbs Bake Shop Finds Layers of Rights Under a Rejected Trademark License

November 17, 2014

As previously discussed here and here, section 365(n) of the Bankruptcy Code offers special protection for licensees of intellectual property. When a debtor-licensor rejects an intellectual property license, section 365(n) allows the licensee to elect to retain its rights under the license without binding the licensor to any continuing obligations.

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