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This article provides an overview of Section 365 of the Bankruptcy Code, a key provision within the Code that allows a debtor to assume, assume and assign, or reject certain executory contracts and unexpired leases. Section 365(n) is a carve-out to the debtor’s broad 365 power that allows a non-debtor counterparty the right to either accept the rejection of a contract/license or continue performing under the contract. This article seeks to explain the scope of Section 365(n) and then touch upon the steps that licensees can take to minimize the loss of the use of their intellectual property licenses in the event a licensor files for bankruptcy.
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Update on Bankruptcy Appellate Practice: Part Two — Equitable Mootness
By Michael L. Cook
This installment of our appellate practice series reviews recent cases addressing the equitable mootness doctrine. The issue ultimately often turns on whether it is practical and fair for an appellate court to review an appeal on the merits, enabling that court to avoid review altogether.
Chapter 15 Can Impact Foreign Bankruptcy As Well As Domestic Civil Litigation
By Francis J. Lawall and Patrick M. Ryan
At first glance, Chapter 15 might appear to have the relatively minor role of staying actions against U.S. assets while the main foreign proceeding moves forward. However, as one recent case out of the Southern District of New York demonstrates, Chapter 15 carries the potential to significantly impact not only the main foreign bankruptcy, but civil litigation in the United States as well.
Purdue Pharma Bankruptcy Settlement Vacation Could Bring More Scrutiny to Non-Debtor Releases
By Avalon Zoppo
A ruling tossing OxyContin maker Purdue Pharma’s bankruptcy settlement could tee up a new issue for the U.S. Supreme Court and spur other judges to more closely scrutinize non-debtor releases, a controversial mechanism that shields third parties in Chapter 11 proceedings from liability.
Update On Bankruptcy Appellate Practice: Part One — Appellate Standing
By Michael L. Cook
Recent cases show that appellate courts continue to wrestle with standing, jurisdiction, mootness, excusable neglect and finality, among other things. The following overview, in a series of installments, shows what the courts have been addressing during just the past three years. This first installment will cover appellate standing.
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