Perfection of security interests in intellectual property can be a trap for the unwary. In general, secured parties are often confused about where to file in order to perfect a security interest. This is not surprising as the perfection regime differs depending on the type of intellectual property. As a starting point, one should determine the general rule for the main classes of intellectual property: trademarks, patents and copyrights.
In a perfect world, a debtor's bankruptcy would involve timely reporting, good faith filings, and full disclosures. Unfortunately, some debtors either enter the process under a cloud of suspicion or make decisions during the process that suggest the estate has been compromised by fraudulent activity. Whether the alleged fraud is a complex bust-out scheme or a simple unreported asset transfer, the debtor may face a serious investigation. Depending on the extent of the allegations, the investigation could be referred as a criminal matter to federal prosecutors. As the
Earlier this summer, the Delaware Bankruptcy Court issued an opinion in the New Century Holdings bankruptcy addressing the definition and purpose of the "Divestiture Rule." See Carr v. New Century TRS Holdings, Inc. (In re New Century TRS Holdings, Inc.), Adv. No. 09-52251(KJC)(Bankr. D. Del.
Earlier this month, Tri-Valley Corporation and various affiliates (collectively "Tri-Valley" or "Debtors") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. This post will look briefly at Tri-Valley's business, why the company filed for bankruptcy as well as Tri-Valley's objectives while in bankruptcy.
As San Bernardino became the third California city to file for municipal bankruptcy within one moth, Micheal Sweet appeared on the Lang and O'Leary Exchange to discuss the reasons so many U.S. cities are struggling.
Click here to view video.
In Salyersville Nat’l Bank v. Bailey (In re Bailey), 664 F.3d 1026 (6th Cir.
In the case of Coughlin v. South Canaan Cellular Investments, LLC, C.A. No. 7202-VCL (Del. Ch. July 6, 2012), Respondents made a request for fee shifting under the bad-faith exception to the American Rule. In reviewing this fee shifting request, the Court found that Respondents’ request itself was unfounded, and coupled with Respondents’ own conduct in the case, instead awarded Petitioner his fees in costs in the amount of $17,906.
- Introduction
Under Chapter 5 of the Bankruptcy Code, a trustee, debtor or assignee of the debtor may recover payments made by the debtor during the ninety days prior to the commencement of a bankruptcy proceeding.
Federal Rule of Bankruptcy Procedure 2004(a) states that "[o]n motion of any party in interest, the court may order the examination of any entity." Courts construing Rule 2004(a) have found its scope "unfettered and broad." In re Washington Mutual, Inc., 408 B.R. 45, 49 (Bankr. D. Del. 2009), citing In re Bennett Funding Group, Inc., 203 B.R. 24, 28 (Bankr. N. D. N.Y. 1996). Federal Rule of Bankruptcy Procedure 2004(b) establishes some of the parameters of what is commonly referred to as a "Rule 2004 Examination":
Earlier this month, GameTech International, Inc., and various related entities (collectively, "GameTech"), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. According to GameTech's Declaration in Support of its Chapter 11 Petitions (the "Decl."), the company entered the electronic bingo business in 1994 and the video lottery terminal ("VLT") and slot machine business in 2007. Decl.