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Executory Contracts and Unexpired Leases
When Your IP Licensor Files for Bankruptcy
How to Protect Your IP License Rights In 1888 – yes 1888 – Kodak coined the slogan: “You press the button, we do the rest.” The company, which was immortalized in Paul Simon’s song “Kodachrome1”, sold its assets – at apparent fire-sale prices – in bankruptcy court in New York. The Kodak case brought into […]
Battling Bankrupt Bargains – A Non-Debtor Perspective on Executory Contracts
mong the most powerful and best known tools the Bankruptcy Code provides a debtor is the ability to reject burdensome contracts or to assume (and potentially assign) valuable contracts. From the perspective of non-debtor counterparties to such contracts, it may seem that the Bankruptcy Code stacks the deck against them. The well-publicized spike in retail bankruptcy cases has highlighted the treatment of leases of non-residential real property (i.e., store leases).
Dealing With Distress For Fun & Profit – Installment #5 – A Peek Into Some Basic Chapter 11 Concepts
A written tour of business bankruptcy and its alternatives Subsequent installments in this series will cover the concepts touched upon here in more detail. We think it prudent, if not necessary, to at least throw some basic chapter 11 concepts on the table now, however, since they are so fundamental to any Chapter 11 case- […]
LLC Membership Interests in Chapter 11 – Can They be Sold Over Other Members’ Objections?
When a chapter 11 debtor holds a membership interest in an LLC, it may be permissible for them to sell their membership interest in the LLC—or even force the sale of the entire LLC–over the objections of one or more other members. Or not. At the crux of the debate in various bankruptcy courts is […]
When Your Tenant Files for Bankruptcy
This blog entry provides a basic overview for issues facing a landlord of commercial real property when its tenant becomes a debtor, by starting a bankruptcy case under chapter 11 of the United State Code (the “Bankruptcy Code”). A given case may present other or additional issues (and timelines), due to the nature of the case or orders of the bankruptcy court.