The Supreme Court holds that a debtor’s rejection of an executory contract in bankruptcy constitutes a breach.
Introduction -
In Mission Product Holdings, Inc. v. Tempnology, LLC (Tempnology), the US Supreme Court overruled a decision by the First Circuit Court of Appeals and clarified the treatment of trademark licenses and other executory contracts after such agreements are rejected under Section 365 of the US Bankruptcy Code. The Supreme Court held that...
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