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Just “Released” by the Third Circuit: In re Millennium Lab Holdings II Key Takeaways

In a highly anticipated decision issued last Thursday (on December 19, 2019), the United States Court of Appeals for the Third Circuit held in In re Millennium Lab Holdings II, LLC that a bankruptcy court may constitutionally confirm a chapter 11 plan of reorganization that contains nonconsensual third-party releases. The court considered whether, pursuant to the United States Supreme Court’s decision in Stern v. Marshall, 564 U.S. 462 (2011), Article III of the United States Constitution prohibits a bankruptcy court from granting such releases.

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
Trademark Licensee May Continue Using Trademark Following Debtor’s Rejection of License Agreement, US Supreme Court Rules

Yesterday, in an 8-1 decision, the US Supreme Court held in Mission Product Holdings, Inc. v.

USA, Insolvency & Restructuring, Litigation, Trademarks, Mayer Brown
Protecting trademark licensee’s right to continued use of trademark when licensor declares bankruptcy

In the case of In re: Exide Technologies, decided on June 1, 2010, the US Court of Appeals for the Third Circuit reversed two lower court decisions and held that a 1991 agreement between Exide Technologies and EnerSys Delaware Inc., which included a license to EnerSys for use of the “EXIDE” trademark, is not an executory contract that can be rejected by Exide in bankruptcy proceedings.

USA, Insolvency & Restructuring, Litigation, Trademarks, Mayer Brown, Bankruptcy, Debtor, Breach of contract, Debtor in possession, US Code, United States bankruptcy court, Third Circuit