In light of the recent high profile bankruptcy filings of dining establishments such as Bennigans and Steak N Ale, Adam Siegelheim leads a discussion with Bankruptcy & Creditor’s Rights Attorneys Timothy Duggan and Thomas Onder to outline what franchisors need to understand about the bankruptcy process.
In this podcast the franchise and bankruptcy attorneys discuss: what happens to the franchise’s intellectual property assets; what are the responsibilities of the franchisees; how does the bankruptcy filing impact the restrictive covenants which exist and how do potential third-party purchasers of the system come into play.