Contact: Mary D. Lane; Mitchell Silberberg & Knupp LLP (Los Angeles, California, USA)
Fashion industry licensees invest substantial sums in reliance on their license rights. Bankrupt licensors have been able to convince courts they can “reject” licenses and, when so doing, thereby cause licensees’ trademark rights to vaporize. Here we discuss why and what a licensee can do.
During the last quarter of 2012, Ruden, the former large Florida law firm, confirmed its liquidating chapter 11 plan (and the first sale of a law firm’s assets as going concern through Chapter 11 in the history of the United States). At about the same time, the bankruptcy judge overseeing Dewey’s bankruptcy approved a $71.5 million settlement between the estate of and its former partners. This settlement appears to be a significant step forward in moving the Dewey chapter 11 case in a positive direction.
Last week the Supreme Court refused to decide whether, when a trademark licensor files for bankruptcy relief or is placed in involuntary bankruptcy by its creditors, the licensee can keep the rights to the trademark.
On Monday, June 25, 2012, Barack Ferrazzano filed an amicus brief in the federal district court for the Central District of Illinois on behalf of the Illinois Bankers Association (the "IBA") in the highly controversial In re Crane bankruptcy.
Contact: Blake Lapthorn (Southampton, England)
Headlines include: an (un)reality check: update on the appointment of administrators?