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In In re Tempnology, the First Circuit held that the debtor’s rejection of a trademark license strips the nondebtor licensee of any right to continue to use the trademarks. In so doing, the court takes the same approach as the Fourth Circuit and rejects the approaches advocated by the Third and Seventh Circuits.
In In re Tempnology, LLC, 879 F.3d 389 (1st Cir. 2018), the First Circuit held (in a 2-1 decision) that the debtor’s rejection of a trademark license strips the nondebtor licensee of any right to continue to use the trademarks. In so doing, the court takes the same approach as the Fourth Circuit in its controversial Lubrizol decision and rejects the approaches advocated by Judge Ambro of the Third Circuit in his Exide concurrence and the Seventh Circuit in its Sunbeam decision. Tempnology thus deepens the circuit split between the Fourth and Seventh Circuits over this issue, and highlights the general confusion that still remains 40 years after enactment of the present Bankruptcy Code over the effect of rejection.
By Jeff J. Friedman
The United States Court of Appeals for the Ninth Circuit recently provided additional guidance to creditors seeking to block confirmation of a plan by…
By Deirdre M. Richards and Howard C. Rubin
It is important for a secured lender to protect itself when entering a transaction with a borrower or lessee to avoid a total loss if the borrower or lessee files a bankruptcy petition or if the leased equipment is damaged, missing or both.
By Daniel A. Lev
Part One of a Two-Part Article
A simple Web search will unearth countless privately-owned golf courses that have closed, are for sale, or have sought bankruptcy protection as an avenue toward a financial restructuring or redevelopment. However, there are limitations on what the owner of a golf course can accomplish in Chapter 11 when the property is burdened with restrictive covenants limiting the use of the property.
Attorney and law firm moves in bankruptcy law.