News & Analysis as of

Breach of Contract › Sale of Assets

Farrell Fritz, P.C.

Oral Modifications to Written Agreements? Better Get Them in Writing Says the Commercial Division

Farrell Fritz, P.C. on

In Castle Restoration & Constr., Inc. v Castle Restoration, LLC, Suffolk County Commercial Division Justice Elizabeth H. Emerson refused to enforce an oral agreement that allegedly modified a prior written agreement between...more

Patterson Belknap Webb & Tyler LLP

Another Ruling on Public Auctions Versus Private Sales Under Section 363

Patterson Belknap Webb & Tyler LLP on

Two weeks ago, we discussed asset sales under Bankruptcy Code section 363. As that post noted, section 363 requires court approval for asset sales outside the ordinary course of business, with courts ensuring that sales...more

Bricker Graydon LLP

Exelon files complaint and injunction motions against FirstEnergy Solutions in bankruptcy case

Bricker Graydon LLP on

On November 26, 2018, Exelon Generation Company, LLC (Exelon) filed a complaint in U.S. bankruptcy court for the Northern District of Ohio for declaratory judgment and injunctive relief, along with a motion for preliminary...more

Kramer Levin Naftalis & Frankel LLP

Addressing the Statute of Limitations in Serial Asset Sales Violating an Indenture

Kramer Levin Naftalis & Frankel LLP on

Market participants invest billions of dollars each year in debt, secured and unsecured. The credit support  for the debt would be illusory without carefully crafted covenants that prevent the company from selling or...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Seventh Circuit Finds Five-Year Sale-of-Business Noncompete Agreement Valid

Ogletree, Deakins, Nash, Smoak & Stewart,... on

In E.T. Products, LLC v. D.E. Miller Holdings, Inc., the Seventh Circuit Court of Appeals recently held that noncompete agreements signed by sellers of a business were enforceable under Indiana law, but the sellers did not...more

Mintz - Bankruptcy & Restructuring Viewpoints

Delaware Court Holds that Trademark License Cannot be Assigned Without Consent

Mintz - Bankruptcy & Restructuring Viewpoints on

The Delaware bankruptcy court recently decided that a debtor could not assign a trademark license absent the consent of the licensor. The court concluded that federal trademark law and the terms of the license precluded...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Declines to Use New York Debtor and Creditor Law to Enjoin a Defendant’s Asset Sale Without Evidence of...

Patterson Belknap Webb & Tyler LLP on

In Del Forte USA, Inc. v. Blue Beverage Group, Inc. et al., No. 518454/2016, 2017 BL 253248 (Sup. Ct. Jul. 17, 2017), New York Commercial Division Justice Sylvia G. Ash denied plaintiff Del Forte’s preliminary injunction...more

Mintz - Bankruptcy & Restructuring Viewpoints

First Circuit Rules that Bankruptcy Court “Retention of Jurisdiction” Provisions Not Enough to Establish Jurisdiction

Mintz - Bankruptcy & Restructuring Viewpoints on

It is very common for bankruptcy court orders to provide that the court retains jurisdiction to enforce such orders. Similarly, chapter 11 confirmation orders routinely provide that the bankruptcy court retains jurisdiction...more

McCarter & English, LLP

Delaware Law Updates – Board’s Adoption of a Plan of Dissolution Held Not to Be a Breach of the Directors’ Fiduciary Duties

McCarter & English, LLP on

In The Huff Energy Fund, L.P. v. Gershen, C.A. No. 11116-VCS (Del. Ch. Sept. 29, 2016), the Delaware Court of Chancery dealt with the issue of whether a company’s decision, approved by its board of directors and its...more

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