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Covenant not to sue is not discharged in bankruptcy

McDermott Will & Emery
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USA
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February 28 2013

The U. S. Court of Appeals for the Third Circuit, equating a covenant not to sue under a patent with a license, has concluded that a trustee in

Broad reading of executory contract when trademark license obligations are unfulfilled

McDermott Will & Emery
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USA
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October 31 2012

In a case originating out of bankruptcy court, the U.S. Court of Appeals for the Eighth Circuit affirmed the bankruptcy court’s finding that a perpetual, royalty free, assignable, transferable, exclusive license granted as part of the sale of the business operations, assets and intellectual property associated with two bread baking brands was an executory contract

Two circuits conclude that automatic bankruptcy stay does not prevent continuation of an infringement action of trademarks

McDermott Will & Emery
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USA
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August 30 2012

In the first decision, the U.S. Court of Appeals for the Sixth Circuit affirmed the district court decision, concluding that a defendant’s bankruptcy filing does not prevent the district court from ruling on a contempt motion for violation of a temporary restraining order protecting plaintiff’s trademarks

Copyright owners waive right to jury trial by filing claims in bankruptcy court

McDermott Will & Emery
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USA
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August 30 2012

By seeking non-dischargeability in bankruptcy of damages owed by a copyright infringer, the U.S. Court of Appeals for the Eighth Circuit held that copyright owners submitted to the bankruptcy court’s equitable power and waived their Seventh Amendment right to a jury trial on their damages claims

The strategy of acquiring distressed assets by purchasing secured claims is aided by a recent Supreme Court opinion

McDermott Will & Emery
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USA
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July 31 2012

In a recent opinion, the Supreme Court unanimously affirmed a secured lender's right to credit-bid at a bankruptcy sale of assets encumbered by such lender's liens

U.S. Supreme Court enforces secured creditor’s right to credit bid

McDermott Will & Emery
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USA
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May 31 2012

Recently, the Supreme Court of the United States held that a debtor cannot confirm a Chapter 11 “cramdown” plan that provides for the sale of collateral free and clear of a secured creditor’s lien when it denies the secured creditor’s right to credit bid at the auction

Recent case highlights split of authority on whether corporate agreements can amend employee benefit plans

McDermott Will & Emery
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USA
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May 15 2012

The U.S. Court of Appeals for the Fifth Circuit recently held that a paragraph in an asset purchase agreement qualified as an amendment to an employee benefit plan, highlighting a split between circuits of the U.S. Courts of Appeal

Patent protection of Section 365(n) of the U.S. Bankruptcy Court extended to U.S. licensees of foreign debtors

McDermott Will & Emery
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USA
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November 30 2011

In a case of first impression that has important implications for parties who acquire intellectual property rights under international license agreements, the U.S. Bankruptcy Court for the Eastern District of Virginia held that the protections of Section 365(n) of the U.S. Bankruptcy Code applied to licensees of U.S. patents in a Chapter 15 case, despite the fact that those protection were not available under the foreign law applicable to the foreign debtor

Third Circuit holds that a portion of post-petition withdrawal liability in bankruptcy is entitled to priority over general unsecured claims

McDermott Will & Emery
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USA
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October 3 2011

Recently, the Third Circuit held that withdrawal liability triggered after a bankruptcy filing date may be apportioned to pre- and post-petition service for the debtor, and that the withdrawal liability attributable to post-petition service may be entitled to priority over general unsecured claims under the Bankruptcy Code

Alleged trademark sublicense assignable in bankruptcy

McDermott Will & Emery
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USA
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August 31 2011

Considering the fate to befall certain trademarks upon an owner’s bankruptcy, the U.S. Court of Appeals for the Seventh Circuit Court determined that a trademark license is not assignable without the owner’s express permission or in the absence of a clause explicitly authorizing assignment and a trademark license cannot be implied from a contract for services

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