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You Can't Always Get Back What You Want: Supreme Court Rules Bankrupt Debtor May Not Cut Off Trademark Licensee’s Rights

Executive Summary

Last week, the Supreme Court (the “Court”) ruled a debtor in bankruptcy cannot use the Bankruptcy Code to cut off a licensee’s rights under a license to use the debtor’s trademarks. This ruling resolves a Circuit split and brings the treatment of trademark licenses from a bankrupt debtor in line with patent and copyright licenses, which are protected statutorily by Bankruptcy Code section 365(n).

USA, Insolvency & Restructuring, Litigation, Trademarks, K&L Gates LLP
M&A Deal Points: New Developments for Deal Makers

New Law to Encourage Informal Restructuring

On 28 March 2017, the Federal Government released its long awaited draft legislation that is designed to encourage restructuring of distressed businesses.

The proposed legislation is open for consultation with the finalised legislation expected to come into effect on 1 January 2018. There are two proposed changes:

Australia, USA, Capital Markets, Corporate Finance/M&A, Insolvency & Restructuring, Tax, K&L Gates LLP, Australian Securities and Investments Commission