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Clouds on the horizon for claim purchasers in the Third Circuit

USA - December 12 2013 In a decision of significance to the distressed claims trading community, the US Court of Appeals for the Third Circuit in In re KB Toys Inc. recently…

Darius J. Goldman, Matthew W. Olsen

OGX insolvency – what distressed investors need to know about Brazilian bankruptcy process

Brazil - November 7 2013 On October 30, 2013, Brazilian oil company OGX Petróleo e Gas Participações SA (OGX) filed for bankruptcy protection (or “judicial reorganization”) in…

Darius J. Goldman, Nina Ellen Abraham Lieberman, Matthew W. Olsen

Municipal bankruptcies: an overview and recent history of Chapter 9 of the Bankruptcy Code

USA - July 23 2013 The City of Detroit filed for protection under chapter 9 of the Bankruptcy Code on July 18, 2013,1 becoming the largest municipality to ever file for…

Trademark licensee’s rights survive rejection of license in bankruptcy in Sunbeam decision

USA - July 17 2012 In reaction to a decision by the U.S. Court of Appeals for the Fourth Circuit, Lubrizol Enterprises, Inc. v. Richmond Metal Finishers, Inc., 756 F.2d 1043 (4th Cir. 1985), in which the court held that a licensee of patents, copyrights and trademarks loses its rights if the trustee or debtor in possession rejects a license under the Bankruptcy Code under which the debtor was the licensor, Congress enacted section 365(n) of the Bankruptcy Code (11 U.S.C. § 365(n)).

Karen Artz Ash, Craig A. Barbarosh, Jeff J. Friedman, John P. Sieger

CFTC issues letter to CME in support of EFF transactions on ELX

USA - August 20 2010 In connection with the long-running dispute between CME Group, Inc.