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Entries tagged “Bankruptcy Court”

SCOTUS Holds Licensee May Continue Using Trademark After Rejection in Bankruptcy

Insight Douglas J. Schneller Douglas J. Schneller · June 11, 2019
The Supreme Court of the United States has ruled that the rejection in bankruptcy by a debtor-licensor of an executory trademark license does not terminate the licensee’s right to use the trademark but instead has the same effect as a breach of that contract outside of bankruptcy.[1] Consequently, the licensee may continue to use the

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9th Circuit Declines to Dismiss a Marijuana-Related Chapter 11 Case, Affirms Plan Confirmation

Insight Douglas J. Schneller Douglas J. Schneller · May 09, 2019
Does a real estate company’s bankruptcy reorganization plan go up in smoke if a tenant uses the property to grow marijuana? Relying on the plain text of Bankruptcy Code Section 1129(a)(3)[1] and the particular facts and procedural history of the case, the United States Court of Appeals for the Ninth Circuit affirmed confirmation of the

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Sports Authority and Consignments: Lessons for Lenders and Vendors

Insight Douglas J. Schneller Douglas J. Schneller · May 09, 2019
A Delaware bankruptcy court (the “Court”) recently considered conflicting security interest claims of (i) a vendor that manufactured and consigned goods to a merchant that later filed for bankruptcy, and (ii) a secured lender that had a perfected lien on inventory and proceeds. The decision has important lessons relating to

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3rd Circuit and Delaware Bankruptcy Court Hold That “Receipt” Under Bankruptcy Code Section 503(b)(9) Requires Physical Possession

Insight Douglas J. Schneller Douglas J. Schneller · August 03, 2017
Section 503(b)(9) of the Bankruptcy Code provides a seller of goods with an administrative expense claim equal to the value of goods received by the debtor within the 20 day period prior to the bankruptcy filing. Two recent decisions provide important guidance for sellers and buyers of goods on the eve of a debtor’s bankruptcy. Read more

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Client Alert: 2nd Circuit Affirms Debtor’s Decision to Nix Sale After Market Price Increases

Insight Douglas J. Schneller Douglas J. Schneller · June 09, 2017
In a decision that will be of interest to distressed investors and sellers and buyers of bankruptcy claims, the United States Circuit Court of Appeals for the Second Circuit affirmed a lower court decision which permitted a claims seller – and debtor in bankruptcy – to disapprove a trade confirmation after the market price had

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