Australia, Employment & Labor, Insolvency & Restructuring, Litigation, The Commercial Bar Association of Victoria
First Equilibrium Pty Limited v Bluestone Property Services Pty Limited (in liq) [2013] FC AFC 108
An appeal from the decision of Bluestone Property Services Pty Ltd (in liq) v First Equilibrium Pty Ltd [2013] FCA 876.
Australia, Insolvency & Restructuring, Litigation, The Commercial Bar Association of Victoria, Standing (law), Corporations Act 2001 (Australia)
Generally, license agreements are “executory contracts” in bankruptcy. Executory means performance is due from both sides. When a party to an executory contract becomes a debtor in bankruptcy, it may either reject or assume the contract. However, non-debtor parties (or “counterparties”) enjoy some protections, especially when the contract is a license agreement for intellectual property.
The basics.
USA, Insolvency & Restructuring, Trademarks, Bradley Arant Boult Cummings LLP, Bankruptcy, Debtor, Default (finance)