The Corporate Insolvency and Governance Act 2020 (CIGA) came into effect on 26 June 2020. Whilst the Act makes a number of changes to the insolvency regime (which are detailed in our Restructuring and Insolvency team's previous article), the focus of this section of the article is the potential effects of the CIGA from a pensions perspective.

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The Seventh Circuit Court of Appeals recently addressed in In re XMH Corp., 647 F. 3d 690 (7th Cir. 2011), whether or not trademark licenses are assignable in bankruptcy proceedings. In its ruling, the Court held that a trademark license may not be assigned by a licensee in a bankruptcy proceeding unless there is an express provision in the contract permitting assignment by the licensee.