What happens to a license for intellectual property when one party to the agreement files for bankruptcy? The answer depends on the court involved

Article Abstract:

The general rules on executory contracts in Bankruptcy Code 365(c,f) must guide the courts in deciding whether debtor-licensees can preserve for themselves or creditors the value of their license rights in bankruptcy. Many courts have yet to consider such assignability. Limiting the assignee's rights to those in the license agreement and requiring of the debtor assurances to the licensor of the assignee's adequate performance would make sure that use of the intellectual property rights would not go beyond the scope intended by the license agreement.

Interpretation and construction, Intellectual property, Licensing agreements

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Opposition to reform legislation grows in Senate; detractors contend that S. 1301 favors creditors and would not curtail crafty debtors' abuses

Article Abstract:

S 1301, the bankruptcy reform bill pushed by creditors requiring some repayment from consumer bankruptcy debtors with the means to do so, is beginning to face opposition from consumer, labor and civil rights groups. These groups point out that the creditor-backed bills contain many provisions in addition to the "needs-based-bankruptcy" ones. As opposition to the bill has increased, senators have begun asking themselves if the credit industry bears some of the blame for the rise in bankruptcies.

Debtor and creditor

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Bankruptcy law; new bill and litigation

Article Abstract:

The impact on bankruptcy litigation of the imminent revision of the US Bankruptcy Code is discussed. The limitations on avoidance of debt and tort liability, the broadened exceptions to Chapter 13 'super-discharge' , and the shortening of the wait for commercial lease lessors are all discussed.

United States

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