Mission Product Holdings, Inc. v. Tempnology, LLC, No. 17-1657
Today, the Supreme Court held in an 8-1 decision that when a debtor, acting under Section 365 of the Bankruptcy Code, rejects a contract licensing its trademarks, the contract is not rescinded and the debtor thus cannot revoke the trademark license.
On April 23, 2019, the United States District Court for the Southern District of New York, in fraudulent transfer litigation arising out of the 2007 leveraged buyout of the Tribune Company,1 ruled on one of the significant issues left unresolved by the US Supreme Court in its Merit Management decision last year.
Merit Management Group, LP v. FTI Consulting, Inc., No. 16-784 (2018)
Bankruptcy Code—Section 546(e) Safe Harbor
Merit Management Group, LP v. FTI Consulting, Inc., No. 16-784
PEM Entities LLC v. Levin, No. 16-492
Yesterday, the United States Supreme Court held that sales of assets pursuant to chapter 11 plans must permit credit bidding by their secured lenders in order to satisfy the requirements for confirmation of a chapter 11 “cramdown” plan.1
The Federal Labour Court has ruled on the fundamental issue of who will be entitled to the rights under a life insurance policy concluded by the employer in the employee’s favour in the event that an employment relationship comes to an end in the course of the employer’s insolvency proceeding.
The Supreme Court has held that a principal was entitled to recover payments collected by its agent on its behalf following the agent's insolvency: Bailey and another (Respondents) v Angove's PTY Limited (Appellant) [2016] UKSC 47.
The Supreme Court has unanimously upheld a Court of Appeal decision refusing to strike out a claim by a “one-man” company in liquidation, which had been the vehicle for a VAT fraud, against its former directors and overseas suppliers alleged to have been involved in the fraud: Jetivia SA v Bilta (UK) Limited [2015] UKSC 23 (see our post on the Court of Appeal decision