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South African SCA overturns High Court decision to place JP Markets into Liquidation

On 20 October 2021, the Supreme Court of Appeal (“the SCA”) handed down a judgement in the matter of JP Markets v FSCA (Case no 460/2021) [2021] ZASCA 148 (20 October 2021) in terms of which the SCA set aside the decision of the High Court to place JP Markets (Pty) Ltd (“JP Markets”) into liquidation, finding that it was not just and equitable.

South Africa, Insolvency & Restructuring, Litigation, Clyde & Co LLP
U.S. bankruptcy laws may prevent a patent licensor from using foreign bankruptcy proceedings to cancel patent cross-licenses and impose new royalty-bearing licenses

First published in LES Insights

USA, Insolvency & Restructuring, Litigation, Patents, Finnegan, Henderson, Farabow, Garrett & Dunner, LLP, Bankruptcy, United States bankruptcy court
Seventh Circuit holds that a trademark licensee is permitted to continue using licensed marks despite bankruptcy rejection of the license agreement

An issue of potential concern for any licensee of intellectual property is the possibility of losing that license if its licensor files for bankruptcy protection. For a bankrupt licensor, its intellectual property may be a significant asset that could be sold or otherwise licensed as part of a dissolution or restructuring. But any license on such intellectual property essentially acts as an encumberance on that property that may reduce the value of the asset to a potential purchaser.

USA, Insolvency & Restructuring, Litigation, Trademarks, Finnegan, Henderson, Farabow, Garrett & Dunner, LLP, Bankruptcy, Seventh Circuit