The Supreme Court recently granted certiorari in the case of Mission Product Holdings, Inc. v. Tempnology, LLC (In re Tempnology, LLC), a First Circuit case that deepened the circuit split on whether trademark licensees are protected from a bankrupt debtor’s rejection of the underlying license.
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When Michael Mastro fled to France to avoid turning over assets in an involuntary bankruptcy case filed against him, the chapter 7 trustee appointed in his case turned to the bankruptcy court for help in retrieving those assets. To do so, the trustee requested “unusual assistance” by asking the bankruptcy […]
In the spirit of the season, we’re (re)visited by Doron Kenter, a member of the Weil Bankruptcy Blog’s O.G. Editorial Board (and, as far as we can tell, still holder of the dubious distinction of having published the most posts for us). What do bankruptcy cases and Halloween have in […]
Among the many protections afforded creditors under the Bankruptcy Code is the estate’s ability to avoid transfers made before the petition date that benefit certain creditors at the expense of others. These so-called avoidance actions are primarily governed by Sections 544, 547 and 548 of the Bankruptcy Code, which set […]
For as long as many of us can remember, buyers and sellers in transactions of all types, including 363 asset sales and new money investments, have utilized “Material Adverse Effect” clauses (also known as “Material Adverse Change” clauses) to allocate the risk of changes in a target’s business between the […]
In a recent decision enforcing the discharge injunction under Section 1107(d)(1)(A) of the Bankruptcy Code, the Bankruptcy Court for the Western District of Pennsylvania blocked a creditor from asserting a claim against the debtor after confirmation of the plan. The case of In re Trustees of Conneaut Lake Park, Inc.), […]
The United States Supreme Court recently declined to review the United States Court of Appeals for the Second Circuit’s opinion in Momentive Performance Materials Inc. v. BOKF, NA. BOKF and Wilmington Trust, indenture trustees for Momentive’s First Lien Notes and 1.5 Lien Notes (which we’ll refer to as the “Senior […]