Business

The First Circuit Court of Appeals decision in Mission Product Holdings Inc. v. Tempnology LLC held that the absence of trademarks from the definition of intellection property in § 101(35A) of the Bankruptcy Code means that, unlike other types of intellectual property, a licensor’s rejection of a trademark license deprives its licensee of any right to continued use of the mark. The Supreme Court has accepted certiorari in the case and is expected to issue a decision late this Spring on the question of whether, under Bankruptcy Code § 365, a debtor-licensor’s rejection of a license terminates rights of the licensee that would survive the licensor’s breach under nonbankruptcy law. This panel will analyze the reach of the question presented, examine the arguments briefed, interpret the scope and breadth of the Court’s decision (assuming it is rendered before the term concludes), and consider the implications for commercial licensing and bankruptcy administration.

ABCs and state receiverships are not the only chapter 11 alternatives. With even middle-market companies having widely held and tradeable note instruments, the exchange offer provides an out-of-court alternative that, if successful, can provide most of the benefits of a confirmed chapter 11 plan, and if unsuccessful, can still provide the basis for a confirmable prepackaged plan. The panel will provide an introduction to exchange offers: the goals, mechanics and documents. The panel will also explore the current thinking on the short reach of the Trust Indenture Act in exchange offers after the Second Circuit Court of Appeals’ decision in Marblegate Asset Management vs. Education Management Corp. In addition, the panel will explore opportunities to use strict foreclosure and other consensual, or nonconsensual, workouts, wind-downs and liquidations to maximize value.

The First Circuit Court of Appeals decision in Mission Product Holdings Inc. v. Tempnology LLC held that the absence of trademarks from the definition of intellection property in § 101(35A) of the Bankruptcy Code means that, unlike other types of intellectual property, a licensor’s rejection of a trademark license deprives its licensee of any right to continued use of the mark. The Supreme Court has accepted certiorari in the case and is expected to issue a decision late this Spring on the question of whether, under Bankruptcy Code § 365, a debtor-licensor’s rejection of a license terminates rights of the licensee that would survive the licensor’s breach under nonbankruptcy law. This panel will analyze the reach of the question presented, examine the arguments briefed, interpret the scope and breadth of the Court’s decision (assuming it is rendered before the term concludes), and consider the implications for commercial licensing and bankruptcy administration.

ABCs and state receiverships are not the only chapter 11 alternatives. With even middle-market companies having widely held and tradeable note instruments, the exchange offer provides an out-of-court alternative that, if successful, can provide most of the benefits of a confirmed chapter 11 plan, and if unsuccessful, can still provide the basis for a confirmable prepackaged plan. The panel will provide an introduction to exchange offers: the goals, mechanics and documents. The panel will also explore the current thinking on the short reach of the Trust Indenture Act in exchange offers after the Second Circuit Court of Appeals’ decision in Marblegate Asset Management vs. Education Management Corp. In addition, the panel will explore opportunities to use strict foreclosure and other consensual, or nonconsensual, workouts, wind-downs and liquidations to maximize value.

Lawyers and law firms, as well as other professionals, need to understand the critical issue of data security. This panel will detail why you are at risk and what you should be doing to combat the threats. The focus will be on understanding cybersecurity risks, data-protection best practices, incident-response planning and ethical obligations. This plenary program will offer practical guidance that you can use both personally and professionally, whether focused principally on consumer or commercial issues.

The panel will discuss recent cases and longstanding Supreme Court jurisprudence on recurring themes, including law vs. equity, approaches to statutory interpretation, the role of courts and limits to jurisdiction, and bankruptcy policy related to reorganization, discharge and the fresh start.