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In its October 2025 Term, the Supreme Court will decide whether Section 47(b) of the Investment Company Act of 1940 (“ICA”) creates a federal cause of action for private plaintiffs seeking rescission of contracts that are...more
It is the stuff of nightmares. Dr Yevhen Hunyak, described by the Judge in the case as "a cautious person", and Iya Patarkatsishivili were careful to visit their prospective home more than half a dozen times between Spring...more
We have written frequently about the substance and scope of general releases. In New York, “a valid release constitutes a complete bar to an action on a claim which is the subject of the release.” If “the language of a...more
Dominance was the theme of this year’s NCAA basketball tournament, with the UConn men’s team winning back-to-back championships and the South Carolina women’s team reclaiming the title with a perfect record. But let’s not...more
The right to rescind (or void) a contract is an extraordinary remedy. However, as franchise lawyers know, certain states provide franchisees a right to rescind a franchise agreement in certain situations, particularly where a...more
In Real Estate Webmasters Inc. v. Rodeo Realty, Inc., Justice Richard Platkin of the Albany County Commercial Division granted plaintiff’s motion to strike Rodeo’s jury demand in connection with Real Estate Webmasters Inc.’s...more
Howard, et al. v. Matterhorn Energy, LLC, et al. [6th Dist.] May 4, 2021 considered the Texas Citizens Participation Act as amended, effective on September 1, 2019....more
The opinion of the Virginia Supreme Court of Appeals in Young-Allen v. Bank of America provides both hope for lenders frustrated by borrowers who delay inevitable foreclosure sales by requiring the lender to comply with every...more
In Mission Product Holdings, Inc. v. Tempnology, LLC, 139 S. Ct. 652, 2019 WL 2166392 (U.S. May 20, 2019), the U.S. Supreme Court ruled that the rejection in bankruptcy of a trademark license agreement, which constitutes a...more
The Southern District of New York has concluded that an insurer’s threat to terminate a reinsurance agreement if the other insurer to the agreement did not comply with its obligations did not terminate the agreement or give...more
What happens if you are a trademark licensee and your licensor files for bankruptcy protection? Can the licensor unilaterally terminate your license and prohibit you from using the license – even if you're in the middle of...more
The United States Supreme Court has rendered a decision that represents a victory for licensees of trademarks throughout the country when faced with a bankrupt licensor....more
Our May 22 post reported on the Supreme Court’s May 20 decision in Mission Product Holdings, Inc. v. Tempnology, LLC,[1] an 8-1 decision holding that the rejection of a trademark license in which the debtor is the licensor...more
In an 8–1 decision, the Supreme Court of the United States reversed the US Court of Appeals for the First Circuit and held that rejection of a trademark license in bankruptcy constitutes a breach of the license agreement,...more
This past May, in a highly-anticipated decision, the Supreme Court held in Mission Product Holdings, Inc. v. Tempnology, LLC that a debtor’s rejection of an executory contract under Section 365 of the Bankruptcy Code has the...more
In May 2019, the U.S. Supreme Court decided the Mission Product Holdings, Inc. v. Tempnology, LLC case. The Mission Products Holdings decision provides a reminder to intellectual property license parties that periodic review...more
The Supreme Court holds that a debtor’s rejection of an executory contract in bankruptcy constitutes a breach. Introduction - In Mission Product Holdings, Inc. v. Tempnology, LLC (Tempnology), the US Supreme Court...more
On May 20, 2019, the US Supreme Court clarified that when a trademark licensor rejects a trademark license agreement in a Chapter 11 bankruptcy proceeding, the rejection does not rescind the use rights of the licensee under...more
Settling a circuit split, the U.S. Supreme Court, in an 8-1 decision, has concluded that a trademark licensee’s rights are not automatically terminated when a debtor in bankruptcy rejects the license agreement. The...more
The U.S. Supreme Court’s recent decision in Mission Product Holdings, Inc. v. Tempnology, LLC, 139 S. Ct. 1652 (2019) that a trademark licensor’s rejection of a trademark license does not terminate the licensee’s right to use...more
On May 20, 2019, in Mission Product Holdings, Inc. v. Tempnology, LLC, 587 U.S. ---, 139 S. Ct. 1652 (2019), the Supreme Court resolved a split among the circuits, holding that a licensor’s rejection of a trademark license in...more
What happens to the business of a trademark licensee when the licensor goes bankrupt has always been an uncertain gray area....more
On May 20, 2019, the Supreme Court held in Mission Products Holdings, Inc. v. Tempnology, LLC that a debtor-licensor's rejection of a trademark license agreement does not "deprive the licensee of its rights to use the...more
The Supreme Court reminded bankrupt debtors on Monday that mere rejection of a contract does not turn back the clock to avoid contractual obligations. This was the thrust of its holding in Mission Product Holdings, Inc. v....more
Recently, in Mission Product Holdings, Inc. v. Tempnology, LLC, the Supreme Court of the United States decided that rejection of a trademark license by a licensor-debtor in bankruptcy generally does not rescind the right of a...more