Introduction & Key Takeaways
The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have played a large role in corporate debt restructurings for the past several years.
On September 10, 2024, the U.S.
With the increase in global trade and business, often involving complex corporate structures in multiple jurisdictions, we expect to see a significant increase in cross-border insolvency and restructuring matters in coming years. This is especially the case with rapid advancements in technology and digital change driving “borderless” transactions and investments in every industry.
The Federal Circuit considered choice-of-law, bankruptcy, and contract law in vacating the district court’s grant of a motion to dismiss in Fraunhofer-Gesellschaft zur Förderung der Angewandten Forschung E.V. v. Sirius XM Radio Inc., No. 2018-2400 (Fed. Cir. Oct. 17, 2019).
Abstract
The Supreme Court recently held that if a bankrupt trademark licensor rejects a trademark licensing agreement during bankruptcy proceedings the licensee does not lose its right to continue using the licensed trademark post-rejection.
Background
Can a trademark licensee continue using a licensed trademark (legally, that is) even after the licensor has declared bankruptcy and—as allowed by the Bankruptcy Code—rejected the licensing agreement? As the Supreme Court has now said, the answer is yes.