The recent outbreak of Covid-19 pandemic has had grave effects on people’s life as well as the economy in almost every country in the world, including Vietnam.
Recognizing the negative impacts of the pandemic on the economy, as well as the considerable difficulty of businesses in solving crises arising during this period of time, Apolat Legal publishes the “A legal handbook for businesses the COVID-19 pandemic” to provide a useful legal reference that businesses can apply to solve difficulties during this period.
In brief
The North America Tax Practice Group presented The Future of IP Planning, the fourth webinar in the series The Importance of Tax in the Response to COVID-19 on 1 May 2020.
The global economy has suffered a massive hit from the COVID-19 pandemic. The collective impact of disruptions to supply chains and falling consumer demand have caused many businesses to suffer varying degrees of financial stress with some having to recapitalise or refinance. While some M&A transactions on foot prior to the onset of the pandemic have been disrupted or delayed, the impact of the pandemic will open up opportunities for cashed-up funds and other buyers to, in time, take advantage of strategic and investment opportunities presented by the pandemic.
This is the twenty-ninth in our series of General Counsel Updates which aim to summarise major developments in key areas.
While the COVID-19 pandemic has wreaked havoc on the global economic marketplace, not all concerns are immediately visible - such as bankruptcy impacting a business’s intellectual property.
The COVID-19 crisis has pushed intellectual property holders and implementers into a distressed situation. In this webinar, we explore what happens if a party to an IP licence becomes insolvent, and discuss practical tips for the non-insolvent party to protect its position.
The Main Street Lending Program is designed to help companies that were in sound financial condition prior to the COVID-19 pandemic to maintain their operations and payroll until conditions normalize. This White Paper gives a broad understanding of the program’s terms and implications by delving into the key questions that market participants are likely to have about the program and addressing the latest changes implemented in the final legal forms and agreements.
In an interesting case of intersection of insolvency and copyright laws, the Delhi High Court has held that the suit for alleged infringement of copyrights, arising out of and/or is in relation to the insolvency resolution plan of a corporate debtor must be adjudicated by the NCLT and that the proceedings in the Civil Court are barred. The suit was dismissed as not maintainable before the High Court in view of Sections 230 and 231 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016.
As per Section 60 (5) (c) of the Insolvency and Bankruptcy Code (IBC), the jurisdiction of matters, inter alia, pertaining to Intellectual Property infringement by a corporate debtor is vested with the National Company Law Tribunal (NCLT) which is empowered by the IBC to entertain and dispose off any question of priorities or any question of law or fact, arising out of or concerning the insolvency resolution for liquidation proceedings.
Consequences and contractual options