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Judicial Reorganisation in the midst of the COVID-19 pandemic: a Brazilian perspective

The COVID-19 pandemic has brought disruption and economic hardship to several businesses around the globe. In Brazil, the effects of lockdown and restriction measures by the Governments have caused numerous companies to file for bankruptcy or judicial reorganisation, the latter being the legal restructuring instrument which aims to assist companies to continue their activities and avoid becoming bankrupt.

Relevant Aspects of the Judicial Reorganisation process

Brazil, Insolvency & Restructuring, Clyde & Co LLP, Bankruptcy, Coronavirus
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