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In this turbulent economy, many companies with valuable intellectual property assets may soon be seeking bankruptcy protection. Unfortunately, the intersection of our nation's lending laws and the federal laws affecting intellectual property rights is complex and still somewhat murky.
Please note that this article was created in cooperation with the Commercial Fraud Task Force committee.
This article is the second in a series of articles discussing 363(n) and collusion in bankruptcy sales. It will discuss the fine line between collusion and collaboration, and will explore the application of the specific elements of a 363(n) action.
Please note that this article was created in cooperation with the Commercial Fraud Task Force committee.
This article is the second in a series of articles discussing 363(n) and collusion in bankruptcy sales. It will discuss the fine line between collusion and collaboration, and will explore the application of the specific elements of a 363(n) action.
Historically, a credit bid in a chapter 11 asset sale pursuant to 11 U.S.C. §363 has frequently been viewed as a "nonsale" event, and the creditors of the debtor-in-possession (DIP) did not feel an obligation to pay an investment banker, business broker, real estate broker or auctioneer (the professional) a commission and/or fee for that result.
The committee met at the Winter Leadership Conference at the Westin Mission Hills Resort in Rancho Mirage, Calif., on Dec. 8, 2007. Conducting the meeting on behalf of the Asset Sales Committee was Weston Anson and Daryl Martin of CONSOR.
The committee met at the Winter Leadership Conference at the Westin Mission Hills Resort in Rancho Mirage, Calif., on Dec. 8, 2007. Conducting the meeting on behalf of the Asset Sales Committee was Weston Anson and Daryl Martin of CONSOR.
The Eleventh Circuit’s recent decision in the Thompkins case provides a graphic illustration of how bad things can happen to copyright holders who do not factor in the potential bankruptcy of another contracting party.1The facts presented a nightmare scenario for the recording artist, Jeffrey Thompkins, who performed under
The 2005 amendments to the Bankruptcy Code have been the source of much controversy. The “patient care ombudsman,” a new position created in health care bankruptcies, however, is one addition that has received little attention in the press. Congress added the position in the newly-codified §333 of the Code.
"You won't hear many tort reformers admit it. They've done too good a job demonizing trial lawyers to let their bogeymen fade away. Twenty years ago, tort reform was an obscure movement with a funny name; today, politicians speak of "ending lawsuit abuse" or "eliminating frivolous lawsuits" -- tort reform by more felicitous names -- whenever they need a failsafe applause line. The movement's success has been a public relations masterpiece."
