THE INTERNATIONAL SCENE: Chapter 15 Limits Tested (citation: Richard J. Corbi, Chapter 15 Limits Tested, XXXI ABI Journal 7, 42-43, 85, August 2012) - Richard J. Corbi

Much attention deservedly has been focused on the recent Delaware Chancery and Supreme Court decisions in the high-profile Vulcan/Martin Marietta case where the courts found that a “use restriction” in a confidentiality agreement (i.e., a provision that limits the recipient’s “use” of the disclosing party’s confidential information to a specified purpose) could in certain circumstances pr

In brief: A recent Supreme Court of New South Wales decision, dismissing an application to restrain the Office of State Revenue from recovering assessed taxes while the time to challenge the assessments was still running, confirms the courts' reluctance to interfere with the recovery of taxes.

Rejecting Lubrizol, Seventh Circuit Expands Licensee Protections in Bankruptcy July 2012 On July 9, 2012, the United States Court of Appeals for the Seventh Circuit became the first federal appeals court to extend protections to licensees of debtor-owned trademarks whose license agreements are rejected in bankruptcy. The decision represents an important win for licensees of trademarks whose licensors become insolvent and, conversely, may substantially affect the value obtainable by a debtor for its trademark through a bankruptcy sale. To read the full alert, please click here.

July 2012

On June 13, 2012, the United States Bankruptcy Court for the Northern District of Texas in the Chapter 15 case of Vitro, S.A.B. de C.V. refused to enforce an order entered by a Mexican court approving a reorganization plan under Mexican law.

SEC Adopts Final Compensation Committee Independence and Related Rules