News & Analysis as of

Section 365

The Impact of Sabine Oil & Gas Corp. on Gas Gathering Agreements

by Saul Ewing LLP on

On March 10, 2017, the United States District Court for the Southern District of New York entered an order affirming a bankruptcy court ruling that permitted the debtors to reject certain gas gathering agreements, finding...more

Mission Accomplished … First Circuit Bankruptcy Appellate Panel Acknowledges Post-Rejection Rights of Licensee of Trademarks

by Sullivan & Worcester on

The Bankruptcy Appellate Panel (“BAP”) for the First Circuit recently upheld a licensee’s rights to use a debtor’s trademarks and logo after a rejection by the debtor of the underlying licensing and distribution agreement....more

Blog: A Beam Of Sun For Trademark Licensees: Another Appellate Court Holds Rejection Does Not Terminate A Trademark Licensee’s...

by Cooley LLP on

The In re Tempnology LLC bankruptcy case in New Hampshire has produced yet another important decision involving trademarks and Section 365(n) of the Bankruptcy Code. This time the decision is from the United States Bankruptcy...more

My Intellectual Property Licensor is Bankrupt – Now What?

by Fish & Richardson on

Bankruptcy presents risks for, among many others, intellectual property (“IP”) licensees. Fortunately, there is a provision in the federal bankruptcy law that is designed to protect IP licensees when a licensor becomes...more

The Right To Countersecurity From A Debtor In Bankruptcy

by Blank Rome LLP on

U.S. maritime law offers a maritime plaintiff two principal means of obtaining security for its claims: Rule B attachment in respect of maritime claims, and Rule C arrest in respect of maritime liens. These rules are...more

Alleviate the Fear of a License Counterparty Filing for Bankruptcy

by Polsinelli on

A legitimate fear among companies negotiating license agreements exists, and that is the fear of the license counterparty filing for bankruptcy. Given the business interruption that ultimately could occur as a result of a...more

Running With the Land

by Locke Lord LLP on

A long-honored concept in real property, that of “covenants running with the land,” is finding its way into the bankruptcy courts. If a covenant (a promise) runs with the land then it burdens or benefits particular real...more

Recent Bankruptcy Cases May Have a Significant Impact on the Midstream Oil and Natural Gas Pipeline Industry

Two recent bankruptcy cases could affect billions of dollars of oil and gas pipeline infrastructure investments. On March 8, 2016, Judge Chapman of the United States Bankruptcy Court for the Southern District of New York...more

Ruling on Pipeline Agreements in Sabine Chapter 11 Case Indicates Battles That Lie Ahead in Energy Company Bankruptcy Cases

by Kelley Drye & Warren LLP on

U.S. Bankruptcy Judge Shelley Chapman ruled last week in the chapter 11 case of Sabine Oil & Gas that Sabine could utilize the U.S. Bankruptcy Code to “reject” certain agreements with pipeline operators. This decision will...more

R&I Update: Hot Topics in Oil and Gas Restructurings, Volume 2 Can Gathering Agreements Be Rejected as Executory Contracts?

by McGuireWoods LLP on

“The carnage is going to be terrible,” cried a recent Dallas Morning News headline. “It’s a hellacious problem,” lamented another article. It’s no secret the energy sector has come upon hard times. Oil prices are down 70...more

Blog: A Reminder Of The Limits Of Section 365(n)’s Licensee Protection

by Cooley LLP on

A decision last month by the U.S. Bankruptcy Court for the District of New Hampshire serves as a good reminder that, although helpful, Bankruptcy Code Section 365(n)’s protection for intellectual property licensees definitely...more

Nonresidential Leases: What Does It Take To Avoid Deemed Rejection?

by Pepper Hamilton LLP on

In re Simbaki, Ltd., 520 B.R. 241 (Bankr. S.D. Tex. 2014) – A chapter 11 debtor sought to assume a restaurant lease.  The landlord objected, arguing among other things that the lease was not timely assumed and so was...more

What General Counsel Should Know When a Company's Tenant Files for Bankruptcy

Your tenant files for bankruptcy-what’s your move? Debtors who are lessees under real property leases have certain rights regarding their lease under § 365 of the Bankruptcy Code. Essentially, the debtor has two options: 1)...more

Terminating a Lease Prior to Bankruptcy: Tricks and Traps

by Pepper Hamilton LLP on

As many commercial landlords can attest based on experience, a tenant that files bankruptcy receives the benefit of rights and protections under the Bankruptcy Code that it would not have outside of bankruptcy. Among other...more

Tucker Arensberg Vindicates Rights of Government Landlords In Bankruptcy Appeal

by Tucker Arensberg, P.C. on

Attorneys Michael Shiner and Irving Firman obtained a successful decision on appeal confirming the right of a governmental landlord to evict tenants following rejection of leases in bankruptcy. The Housing Authority sought a...more

New Jersey Bankruptcy Court Decision Protects Rights of Trademark Licensees - "Free and Clear" Sale of a Trademark or Intellectual...

by Holland & Knight LLP on

The United States Bankruptcy Court for the District of New Jersey issued an opinion in In re Crumbs Bake Shop, Inc., No. 14-24287-MBK that provides significant protections for trademark licensees. The opinion was issued on...more

Patent Reform Bill, And Its Revisions To Bankruptcy Code Section 365(n), Stalls In The Senate

by Cooley LLP on

In December 2013 I wrote about the Innovation Act, H.R. 3309, a bill focused on patent infringement litigation and other patent law reforms that passed the House of Representatives on a bipartisan basis. My interest in the...more

Innovation Act, Passed By The House, Would Make Major Changes To Section 365(n)’s IP Licensee Protections

by Cooley LLP on

It isn’t law yet, but on December 5, 2013, the U.S. House of Representatives passed a significant patent reform bill known as the "Innovation Act." Although the focus of the legislation is on patent infringement litigation...more

What Happens to a Technology Licensee’s Rights if the Licensor Goes Bankrupt?

by Ervin Cohen & Jessup LLP on

When a company’s losses and obligations send it into bankruptcy, one of its most powerful tools available in trying to reorganize and emerge is Section 365 of the U.S. Bankruptcy Code. Section 365 allows the bankrupt company...more

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