The ABI Bankruptcy Litigation Committee recently published a newsletter with articles focusing on IP matters in bankruptcy litigation. Following publication of the newsletter, authors invited members to dial in for further discussion of the topic and articles.
The collapse of a business is traumatic for any owner-operator. They worry about their employees, damage to their reputations, and may well face an uncertain financial future. If the business was operated as a corporation, the failure of the company may have a devastating impact on the owner-operator, but she will not likely be compelled to repay compensation she received as an officer of the company prior to the filing.
Trump Entertainment Resorts Trump AC Casino Marks, LLC (the “licensee/debtor”) filed voluntary petitions for chapter 11 relief on Sept. 9, 2014. On Aug. 5, 2014, Trump Marks, LLC sought to terminate the royalty-free trademark license previously granted to the licensee/debtor.
In today’s corporate bankruptcy world, a debtor’s most important and valuable assets often come in the form of intellectual property (IP). Understanding the effect of bankruptcy on IP licenses is crucial not only for debtors, but also for existing licensees and for potential purchasers of IP assets.
This article addresses how the decision in In re Crumbs Bake Shop Inc.[1] continues the evolution of trademark licensing in bankruptcy and contributes to an understanding of the fate of Intellectual Property (IP) during a § 363 asset sale.
Whether a contract is executory and therefore subject to assumption or rejection can have profound consequences on both the debtor and nondebtor parties to such contract. If both parties have material obligations to the other, then a contract is executory.
The ABI Commission Report proposes some significant changes to the Bankruptcy Code, and the preferential transfer statute in Section 547 is no exception.This webinar explores the rationale behind the recommendations, such as the good faith belief for filing a demand letter or preference complaint, the increase in the statutory minimum to bring a preference action, and more.
Today’s commercial bankruptcy environment favors the creation of special trusts to separate liquidating and litigation assets from operational assets in the hopes of maximizing distribution to creditors and permitting a reorganized debtor to emerge successfully from bankruptcy. The lengthy process of administering assets that have uncertain recoveries, or that may require significant time to handle, begs the use of a vehicle that can be separated from the
Trustee Selection in Commercial Bankruptcy Cases: Who Wins the Battle to Control the Estate?
The dissolution of a law firm can be a financial catastrophe for its partners. In a typical law firm dissolution, the partners lose any bonuses, end-of-year draws, and thousands or hundreds of thousands of dollars in capital. Adding insult to injury, if the firm’s creditors force it into bankruptcy, which often happens following law firm dissolutions, the partners can expect to be the targets of litigation.