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Trademark Licensees May Be Able to Have Their (Cup)Cake and Eat It, Too
January 31, 2015
Following a recent line of high-profile and notable decisions that have sought to protect the rights of trademark licensees in a trademark licensor's bankruptcy, the United States Bankruptcy Court for the District of New Jersey has issued a significant decision that, for the first time, extends the protections of Section 365(n) of the Bankruptcy Code, 11 U.S.C. ' 365(n), to trademark licensees on equitable grounds.
IP Licenses In Bankruptcy
January 31, 2015
When a licensor hits the skids, a licensee's two primary concerns should include: 1) whether the protections afforded by Bankruptcy Code section 365(n) are available if the debtor-licensor rejects the license; and 2) protecting its rights if the debtor-licensor seeks to sell the intellectual property. .
Secured Lender Primes Earlier Federal Tax Lien
January 31, 2015
The Fourth Circuit, recently held in a split decision that a lender's unrecorded lien primed an earlier unrecorded federal tax lien on a Chapter 11 debtor's real property. The case reassures secured lenders unaware of a borrower's preexisting tax lien, however, as it protects them against the government's nondisclosure.
Balancing the Equities in Municipal Bankruptcies
December 31, 2014
When it comes to explaining what has prompted the incidence of financial distress being experienced by an increasing number of our nation's cities, perhaps the most persistent and significant cause is a troubled city's obligations to fund substantial pensions for its employees, both retired as well as its active work force.
Court Expands Use of Average Lateness Methodology
December 31, 2014
Two recent decisions from the United States Bankruptcy Court for the Southern District of New York affirmed the use of "average lateness" methodology to examine both the subjective and the objective components of the ordinary course of business defense to preference actions. This article discusses the significance of these decisions.
Cramdown Interest Rates in Chapter 11
December 31, 2014
In <I>Till v. SCS Credit Corp.</I>, theU.S. Supreme Court applied a formula to determine the appropriate cramdown interest rate with respect to the treatment of secured claims in a Chapter 13 case. However, <I>Till </I> left an unanswered question about how to determine an applicable cramdown interest rate for allowed secured claims in Chapter 11 cases.
Taking a Stand Where Few Have Trodden
November 30, 2014
A "structured dismissal" of a Chapter 11 case following a sale of substantially all of the debtor's assets has become increasingly common. However, only a handful of rulings have been issued on the subject...
'Triggering Event Test'
November 30, 2014
In the preference avoidance context, the insolvency of the debtor is an element of the <I> prima facie</I> case that is not commonly litigated. When it is litigated, however, the scope of a debtor's liabilities can make or break the case.
The First Circuit's Non-Unanimous Rejection o the Blanket Rule on Stay Relief Denials
November 30, 2014
Are orders denying relief from the automatic stay pursuant to Section 362 of the Bankruptcy Code considered final and, therefore, appealable as of right? This was the issue of first impression that was recently presented to the First Circuit.
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- Lack of Logo Placement At Center of Ruling Over Meat Loaf Album PackagingTo build visibility for its brand, a record label or production company will want its logo included on products containing its master recordings manufactured and distributed by third parties. This will be addressed in the agreement between the label or production company and manufacturer/distributor. The failure to include the logo may raise a host of issues, from the breadth of the logo-placement obligation ' such as whether it includes Internet downloads ' to the proper theory on which to base any damages and just which album-sales figures are subject to evidentiary discovery. A recent ruling by the U.S. Court of Appeals for the Sixth Circuit ' in a long-running dispute between Cleveland International Records and Sony Music Entertainment ' illustrated how these issues may be argued and decided.Read More ›