What We’re Reading (or in one case watching) This Week [June 21, 2019]
Non-Consensual Releases in Bankruptcy
Recent United States Supreme Court Decision Tackles Question of What Happens When Bankruptcy Meets Intellectual Property
By: Katie M. Hollowell
A recent United States Supreme Court decision handed down in May addressed what occurred when contract, bankruptcy, and intellectual property laws intersected.[1] In Mission Products Holdings, Inc. v. Tempnology, LLC nka Old Cold, LLC, the Supreme Court was presented with the question of whether a debtor’s rejection of an executory contract rescinded the rights conveyed with that contract. Holding that a rejection of the contract is a breach, the…
New Delaware Chapter 15 Bankruptcy Filing – Munro Media Ltd.
Munro Media Ltd., along with three subsidiaries, has filed a petition for recognition of a foreign proceeding under Chapter 15 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11365-KBO). According to the accompanying Declaration and exhibits thereto, the Debtors are advertising technology companies that offer online marketing expertise to their customers. Ernst & Young Inc. has been appointed as the Receiver of all of the Debtors’ assets…
Sixth Circuit Opinion Highlights the Importance of Indemnity Clauses and Consequential Damages Waivers in Data Vendor Agreements
By: Jessica C. Engler
Outsourcing of basic business functions is increasingly popular. While businesses would once perform data management in-house and rely on their on-site server infrastructure to store data, businesses today are frequently turning to cloud storage providers and other third-parties to hold and manage data. These third party vendors are frequently charged with holding sensitive personal information, such as protected health information, social security numbers, and payment card information, supplied to them by…
Delaware Organizational Meeting- Insys Therapeutics, Inc.
Upcoming Committee Formation Meeting: Wednesday, June 19, 2019
Case Name: 19-11292 (KG)
Location: The Doubletree Hotel 700 King Street Wilmington, DE 19801
Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.
Contact Norman L. Pernick or G. David Dean for more information regarding this matter.…
What We’re Reading This Week [June 14, 2019]
Supreme Court Denies Cert Bid Over Unpaid Breakup Fee
Delaware Organizational Meeting- SportCo Holdings, Inc.
Upcoming Committee Formation Meeting: Monday, June 17, 2019
Case Name: 19-11299 (LSS)
Location: Sheraton Suites 422 Delaware Avenue Wilmington, DE 19801
Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief.
Contact Norman L. Pernick or G. David Dean for more information regarding this matter.…
The Doctrine of Substantial Performance – Close Only Counts in Horseshoes, Hand Grenades, Atomic Warfare and Construction?
By David Nelson and Beau Bourgeois
In humanity’s never ending quest for perfection, being close to perfect is still failure. If you grew up playing sports you undoubtedly heard a grizzled coach disgustedly say, “[c]lose only counts in horseshoes, hand grenades and atomic warfare.” However, under the Doctrine of Substantial Performance (and the related “Economic Waste” theory), construction projects may be another example of when close is good enough.
At its core a construction contract…
