A “third-party release” in bankruptcy refers to a release that is given to a non-debtor party by other non-debtors – like creditors. Third-party release issues typically arise in the context of chapter 11 plan negotiations (which is essentially a contract between a debtor and its creditor constituents setting out the treatment of a
Bankruptcy Code
BREAKING: Rejection under section 365 of the Bankruptcy Code does not rescind trademark license agreement
By Katherine M. Devanney on
Last November, we reported on the long-standing circuit split between the First and Seventh Circuits regarding the effect of rejection of a trademark license agreement under section 365 of the Bankruptcy Code.
This morning, in Mission Product Holdings, Inc. v. Tempnology, LLC, 2019 WL 2166392, the Supreme Court affirmed the Seventh Circuit’s reasoning and…
Jason Realty’s Restrictions on Use of Rents as Cash Collateral Do Not Apply to a Debtor’s Use of Hotel Revenues
By Jason R. Finkelstein on
Posted in Bankruptcy Litigation, Recent Developments
The Bankruptcy Court for the District of New Jersey (Kaplan, J.) recently held that hotel revenues (including revenues generated from room occupancy, food and beverage sales, catering, gift shop purchases, spa, and related hotel services) do not constitute “rent” within the meaning of the Third Circuit decision of In re Jason Realty, L.P., 59…
Dollar Amount Revisions Under Various Sections of the Bankruptcy Code Take Effect as of April 1, 2010
By John H. Drucker on
Posted in Business Bankruptcy Issues, Recent Developments
Pursuant to section 104(a) of the Bankruptcy Code (11 U.S.C. § 104(a)), starting April 1, 1998, and at each three year interval ending on April 1 thereafter, the dollar amounts in effect under various sections of the Bankruptcy Code are subject to adjustment. The adjustments are based upon the consumer price index, and a rounding…