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Silicon Valley Bank and Signature Bank Fallout - Legal Considerations for Borrowers, Syndicated Lenders and Trade Creditors

Highlights

Counterparties should continue to follow their current contractual obligations

Silicon Valley Bank’s parent company bankruptcy filing will not impact contractual rights

Counterparties should be vigilant and consider alternate financing arrangements

USA, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Barnes & Thornburg LLP, Venture capital, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
U.S. Supreme Court adopts rule protecting a trademark licensee’s ability to use a trademark after a bankrupt licensor’s rejection of the license

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