Two Recent Developments in Bankruptcy Law: SCOTUS on Trademarks & the Small Business Reorganization Act of 2019
Created on October 03, 2019
Earlier this year, the U.S. Supreme Court held in Mission Product Holdings, Inc. v. Tempnology, LLC that a debtor's rejection of a trademark license agreement in which it is the licensor, does not deprive the non-debtor licensee of its right to use the trademark. This decision resolved a split among several of the federal Courts of Appeal about how a debtor-licensor's rejection of a trademark agreement in bankruptcy affects the rights of the non-debtor licensee.
In addition, in August 2019, the President of the United States signed the Small Business Reorganization Act of 2019 into law. This law, which will become effective in February 2020, is designed to foster successful restructurings of small businesses, and thereby save jobs and preserve enterprise value. By creating more expeditious Chapter 11 procedures, this law promises to expand the class of small business debtors who may benefit from restructuring in bankruptcy. Join Tannenbaum's Michael Riela as he addresses these two major developments in bankruptcy law.
- Dissect the Supreme Court's holding in Mission Product Holdings v. Tempnology, LLC, and its implications on trademark licenses and other types of executory contracts in bankruptcy
- Identify the principal provisions of the Small Business Reorganization Act of 2019 and how they may change the way that small businesses restructure their obligations in Chapter 11
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