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Debtors Section 365

Cadwalader, Wickersham & Taft LLP

Does WeWork’s Going Concern Warning Signal a Potential Bankruptcy Filing?

Three years have passed since the COVID-19 pandemic reached the United States and its effects are still being felt today.  Even though lockdown measures have largely disappeared and many workers have returned to the office,...more

Morgan Lewis

How to Navigate the Post-FTX Crypto Bankruptcy Regulatory Landscape

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In the wake of several high-profile collapses of cryptocurrency exchanges, most notably FTX, Celsius, and Voyager, the state of the digital asset landscape is ever-changing, with more questions and landmines than clear paths...more

Jones Day

Default Under Assumed Lease Need Not Be Material or Ongoing to Trigger Landlord's Entitlement to Adequate Assurance of Future...

Jones Day on

The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume, assume and assign, or reject executory contracts and unexpired leases is an important tool designed to promote a "fresh start" for...more

Greenberg Glusker LLP

When it Comes to Assuming Executory Contracts, a Default is a Default; But the Equities Still Matter

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The recent decision of the Ninth Circuit in In re Hawkeye Entertainment, LLC contains a few important takeaways with respect to the treatment of executory contracts and unexpired leases under section 365 of the Bankruptcy...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy Court Continues to be a Battleground on Key Healthcare Provider Issues

The intersection between Medicare and state Medicaid regulatory schemes on the one hand and bankruptcy proceedings on the other continues to be an interesting, often highly contested, source of bankruptcy litigation. In...more

Ballard Spahr LLP

Every Default Counts: Ninth Circuit Rules Tenant Must Provide ‘Adequate Assurance of Future Performance’ to Assume a Lease...

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Summary - A recent decision from the Ninth Circuit Court of Appeals illustrates the challenges faced by both bankrupt tenants and their landlords in the assumption of leases by tenants in bankruptcy proceedings. In the...more

Patterson Belknap Webb & Tyler LLP

New SDNY Decision on Administrative Priority for Executory Contracts

To encourage parties to transact with debtors in bankruptcy, the Bankruptcy Code in corporate bankruptcies provides highest priority to “administrative expenses,” which include “the actual, necessary costs and expenses of...more

Kelley Drye & Warren LLP

Nobody’s Default? Ninth Circuit to Decide Whether Defaults Need to be ‘Material’ Before Landlords Get Adequate Assurance Under the...

Section 365 of the Bankruptcy Code allows debtors to “assume” unexpired leases, recommitting themselves and their counterparties to the existing lease terms, subject to approval by the Bankruptcy Court. If there are existing...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Ipso Facto Clauses - Bankruptcy Basics for New and Non-Bankruptcy Attorneys

This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals.  This entry will discuss how...more

Jones Day

Delaware Court Holds Rejection Eliminates Non-Debtor's Exclusive Right to Provide Services to the Debtor

Jones Day on

Nine Point Energy Holdings, Inc. and its affiliates (collectively, "Nine Point" or "Nine Point debtors") constituted an oil and gas production and exploration company that sought to reorganize in chapter 11 through a going...more

A&O Shearman

Is it or isn't it? Treatment of ground leases under the Bankruptcy Code

A&O Shearman on

While the pandemic has had varying effects on different industries, certain segments of the commercial real estate market have endured, and may yet endure, greater pain than other industries. ...more

Nelson Mullins Riley & Scarborough LLP

The Exciting (or Bewildering?) Intersection of Bankruptcy Code Section 365 and the Sale of LLC Membership Interests

Debtors and trustees are faced with the task of maximizing the value of bankruptcy estate assets in the face of many obstacles, such as limited liquidity runway and the competing interests of various creditor and equity...more

Jones Day

"Work-for-Hire" Film Production Agreement Not Executory Contract in Bankruptcy Due to Lack of Mutual Continuing Material...

Jones Day on

Whether a contract is "executory" such that it can be assumed, rejected, or assigned in bankruptcy is a question infrequently addressed by the circuit courts of appeals. The U.S. Court of Appeals for the Third Circuit...more

Greenberg Glusker LLP

License Rights and Bankruptcy: No “Silver Linings”

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The Third Circuit’s decision in Spyglass Media Company v. Cohen has added to what is already a tangled web of cases dealing with the rights of licensees and licensors when one of them becomes a debtor in bankruptcy. In...more

Ballard Spahr LLP

New Stimulus Deal: Amendments to the Bankruptcy Code

Ballard Spahr LLP on

President Trump signed the Consolidated Appropriations Act, 2021 yesterday, December 27, 2020. Although not widely reported, the legislation makes several amendments to the Bankruptcy Code based upon the severe financial...more

Neal, Gerber & Eisenberg LLP

Intellectual Property Licenses and Bankruptcy

The COVID-19 pandemic has already caused numerous companies to file for bankruptcy relief and will likely cause many more to do so. In this environment, it is particularly important for both licensees and licensors of...more

Farella Braun + Martel LLP

Three Steps Licensees Can Take to Protect Their IP Rights in Bankruptcy

During periods of widespread economic disruption such as the present, operating businesses must be able to identify and respond to threats to the financial health of their contracting counterparts in order to protect key...more

Kilpatrick

6 Key Takeaways from Mission Product vs. Tempnology for Brand Licensing and Franchising

Kilpatrick on

Kilpatrick Townsend’s Paul Rosenblatt and David Posner, bankruptcy partners, and Marc Lieberstein, a brand licensing and franchise partner, recently published an article in the New York State Bar Association Intellectual...more

Jackson Walker

Texas Bankruptcy Court – Applying Oklahoma Law – Concludes That Gathering Agreements Created Covenants Running With the Land and...

Jackson Walker on

On December 20, 2019, the United States Bankruptcy Court for the Southern District of Texas (Marvin Isgur presiding) entered a memorandum opinion and order finding that midstream gathering agreements created covenants running...more

Jones Day

The U.S. Supreme Court Rules That Rejection of a Trademark License Agreement in Bankruptcy Does Not Strip the Licensee of Its...

Jones Day on

In Mission Product Holdings, Inc. v. Tempnology, LLC, 139 S. Ct. 652, 2019 WL 2166392 (U.S. May 20, 2019), the U.S. Supreme Court ruled that the rejection in bankruptcy of a trademark license agreement, which constitutes a...more

Ward and Smith, P.A.

Supreme Court: Rejection of a Trademark License by a Bankrupt Licensor Doesn't Terminate the License

Ward and Smith, P.A. on

What happens if you are a trademark licensee and your licensor files for bankruptcy protection? Can the licensor unilaterally terminate your license and prohibit you from using the license – even if you're in the middle of...more

Harris Beach PLLC

Supreme Court Brings Protections to Licensees of Trademarks

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The United States Supreme Court has rendered a decision that represents a victory for licensees of trademarks throughout the country when faced with a bankrupt licensor....more

Patterson Belknap Webb & Tyler LLP

Trademark Licenses . . . Again (Update No. 8): The Supreme Court Decides! (Part 2)

Our May 22 post reported on the Supreme Court’s May 20 decision in Mission Product Holdings, Inc. v. Tempnology, LLC,[1] an 8-1 decision holding that the rejection of a trademark license in which the debtor is the licensor...more

McDermott Will & Emery

Supreme Court Addresses Effects of Trademark License Rejection in Bankruptcy

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In an 8–1 decision, the Supreme Court of the United States reversed the US Court of Appeals for the First Circuit and held that rejection of a trademark license in bankruptcy constitutes a breach of the license agreement,...more

Mintz - Intellectual Property Viewpoints

U.S. Supreme Court Adopts Rule Protecting a Trademark Licensee’s Ability to Use a Trademark after a Bankrupt Licensor’s Rejection...

This past May, in a highly-anticipated decision, the Supreme Court held in Mission Product Holdings, Inc. v. Tempnology, LLC that a debtor’s rejection of an executory contract under Section 365 of the Bankruptcy Code has the...more

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