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The question is whether a debtor’s rejection of its agreement granting a license “terminates rights of the licensee that would survive the licensor’s breach under applicable nonbankruptcy law.”
In Mission Product Holdings, Inc. v. Tempnology, LLC, 139 S. Ct. 1652 (2019), the Supreme Court undertakes to resolve a circuit split between the First and Seventh Circuits over the effect of rejection in bankruptcy of a trademark license under section 365 of the Bankruptcy Code. The question is whether a debtor’s rejection of its agreement granting a license “terminates rights of the licensee that would survive the licensor’s breach under applicable nonbankruptcy law.” (Pet. for Cert. i.) Those rights include the right to continue to use the trademarks for the term of the rejected agreement.
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Bankruptcy Sales: Finding a Diamond In the Rough
By Matthew I. Kramer
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
J.Crew Allowed to Shutter Under Terms of Mall Lease
By Danielle C. Lesser
Malls across America, long suffering even before the rise of COVID-19, are now forced to confront a wave of store closures that will inevitably result from current factors. Troubled retailers will, without doubt, seek to close their failing mall locations. To stem these efforts, landlords have applied to courts for injunctive relief to force stores to remain open and operating through the enforcement of the “continuous operations provision” found in mall leases.
The Bankruptcy Code’s Anti-Discrimination Section and COVID-19
By Andrew C. Kassner and Joseph N. Argentina Jr.
The pandemic has spurred analysis of legal issues as businesses grapple with their respective relationships with both private and public entities. In this article, the authors examine Section 525 of the Bankruptcy Code — the anti-discrimination section, and its implications during COVID-19.
The ABCs of Assignments for the Benefit of Creditors (ABCs)
By Mark S. Melickian and Hajar Jouglaf
General assignments for the benefit of creditors (ABCs) have been and continue to be a popular business liquidation device for the orderly wind down of corporations, limited liability companies, and even nonprofit corporations and general partnerships. Just as in bankruptcy, an ABC can also be used to facilitate a going-concern sale of the debtor’s assets to a third-party.
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