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COVID-19 Directors & Officers: Temporary amendments to insolvency and corporations law

Introduction:

The Australian Federal Government announced temporary amendments, effective 24 March 2020, to insolvency and corporations law in response to the challenges that businesses are facing as a result of the COVID-19 crisis. These amendments provide a safety net to businesses in challenging times to foster survival for those businesses once the crisis has passed.

Australia, Company & Commercial, Insolvency & Restructuring, Clyde & Co LLP, 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