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Sales & Distribution Agreements Bankruptcy Code

Bailey & Glasser, LLP

Third Circuit Signals Possible Limitations On Setoff Rights

Bailey & Glasser, LLP on

Parties to corporate transactions often rely on contractual setoff rights to help ensure that they can be paid or at least limit the amounts lost if the counterparty fails to pay.  While the Bankruptcy Code generally protects...more

Lowenstein Sandler LLP

Third Circuit Eschews Setoff Creativity In Favor Of A Simple Mutuality Test

Lowenstein Sandler LLP on

On March 19, 2021, the Court of Appeals for the Third Circuit issued its decision in In re Orexigen Therapeutics, Inc., 2021 WL 1046485 (3rd Cir. Mar. 19, 2021), affirming lower courts’ decisions rejecting “triangular setoff”...more

Kramer Levin Naftalis & Frankel LLP

First Circuit Holds Rejection of Trademark License Leaves Licensee With Only a Claim for Pre-petition Damages – No Right to...

The First Circuit in Mission Product Holdings, Inc. v. Tempnology, LLC (In re Tempnology, LLC), 879 F.3d 389 (1st Cir. 2018), recently held that the Debtor’s rejection of a trademark license left the licensee with only a...more

Sullivan & Worcester

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

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

Greenberg Glusker LLP

Producers Beware: What happens when your movie distributor files bankruptcy?

Greenberg Glusker LLP on

The Issue - There has been written a plethora of articles about Bankruptcy Code §365(n) regarding the rights of parties to license agreements when the licensor files a bankruptcy and rejects a license agreement....more

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