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What’s Done is Done: Third Circuit Upholds Equitable Mootness and Rules Out Possibility of Individualized Relief for Timely Objecting Party

Bankruptcy courts often dismiss appeals of chapter 11 plans when granting the relief requested in the appeal would undermine the finality and reliability of the corresponding plans, a doctrine known as Equitable Mootness. Over the past several years, certain circuits criticized the doctrine for its lack of statutory basis and effect of avoiding review on the merits.1

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Fraudulent Transfer Claims Avoid State Sovereign Immunity, But Only If a Property Interest Exists Under State Law

In a recent decision, In re Philadelphia Entertainment and Development Partners, L.P., No. 14-000255-mdc (Bankr. E.D. Pa. Dec. 31, 2019), the Bankruptcy Court for the Eastern District of Pennsylvania held that state sovereign immunity does not prevent bankruptcy courts from hearing fraudulent transfer claims against states.

USA, Pennsylvania, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor
U.S. Supreme Court adopts rule protecting a trademark licensee’s ability to use a trademark after a bankrupt licensor’s rejection of the license

This past May, in a highly-anticipated decision, the Supreme Court held in Mission Product Holdings, Inc. v. Tempnology, LLC that a debtor’s rejection of an executory contract under Section 365 of the Bankruptcy Code has the same effect as a breach of contract outside of bankruptcy.

USA, Company & Commercial, Insolvency & Restructuring, Litigation, Trademarks, Mintz, Debtor, Supreme Court of the United States