In the Red

AUGUST 2, 2018

The twists and turns of the In re Tempnology LLC bankruptcy case have been a frequent subject on this blog for good reason. The case addresses whether a trademark licensee, whose licensor files bankruptcy and rejects the license agreement, retains any rights to use the trademark — or instead is out of luck. A Wild Ride. The licensee in that case, Mission Product Holdings, Inc. (“Mission”), has been on something of a roller coaster ride for the past few years: First, Mission l

Bankruptcy 100

Bankruptcy Debtor Manufacturing Trade 100

In the Red

NOVEMBER 28, 2018

Almost every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.

Bankruptcy 100

Bankruptcy Judgment Government 100

In the Red

FEBRUARY 13, 2019

The Big Question. What is the effect of rejection of a trademark license by a debtor-licensor? Over the past few years, this blog has followed the Tempnology case out of New Hampshire raising just that issue. The case has gone from the bankruptcy court , to the Bankruptcy Appellate Panel , and then to the First Circuit. Last August, I wrote about how the case could be headed to the Supreme Court.

Bankruptcy 100

Bankruptcy Debtor Manufacturing Trade 100

In the Red

FEBRUARY 15, 2019

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased about 6.2% this time for new cases filed on or after April 1, 2019. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts. Among the most meaningful increases for Chapter 11 and other business bankruptcy cases: The employee compensation and employee benefit plan contribution prior

Bankruptcy 140

Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 140

In the Red

FEBRUARY 20, 2019

The Supreme Court held oral argument earlier today in the Mission Products v. Tempnology case, on the issue of the effect of rejection by a licensor of a trademark license on the licensee’s rights. For the full background on the case and the arguments of the parties and amici, please read this post from last week. However, for quick reference, this is the question presented: Whether, under §365 of the Bankruptcy Code, a debtor-licensor’s “rejection” of a license agreement—which “constitute

Bankruptcy 100

Bankruptcy Debtor Trade 100

In the Red

APRIL 1, 2019

As discussed in an earlier post called “ Moving Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2019 ,” various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after today, April 1, 2019. This information sheet has a list of all of the dollar amount changes now in effect. The official bankruptcy forms have also been revised to reflect these new dollar amounts.

Bankruptcy 100

Bankruptcy 100

In the Red

MAY 21, 2019

A Big Answer To A Big Question. After dividing the courts for a number of years, we finally have the answer to the big question of whether rejection of a trademark license by a debtor-licensor deprives the licensee of the right to use the trademark. Here’s the question on which the Supreme Court granted certiorari in the Mission Product Holdings, Inc. v Tempnology, LLC case: Whether, under §365 of the Bankruptcy Code, a debtor-licensor’s “rejection” of a license agreement—which “constitutes a b

Bankruptcy 100

Bankruptcy Debtor Manufacturing Law Firms 100

In the Red

NOVEMBER 5, 2019

Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.

Bankruptcy 100

Bankruptcy Debtor Government 100

In the Red

MARCH 23, 2020

The COVID-19 pandemic has caused unprecedented economic disruption, creating sudden financial distress across industries. Companies are now facing impacts ranging from a dramatic decline in revenue of uncertain duration, to potential setbacks to M&A transactions, to delayed or canceled financing rounds. With even some previously well-performing companies potentially entering the so-called zone of insolvency, it’s important to review the fiduciary duties owed by directors and officers a

Creditors 130

Creditors Lender Judgment Government 130