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
It’s been quite a week for important cases on TUPE and its operation in relation to administrations. The Court of Appeal has delivered two judgments which are of considerable importance for those contemplating and structuring transactions out of administration.
The key points to note are that:
United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, Dechert LLP, Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK), Court of Appeal of England & Wales