8th Circ. Ruling Is Big Win For Nondebtor Trademark Licensees
Law360, New York (June 10, 2014, 12:20 PM EDT) -- On June 6, the Eighth Circuit reversed its own August 2012 panel decision that had allowed a Chapter 11 debtor to "reject" a perpetual, royalty-free trademark license agreement as an "executory contract." In reversing its earlier decision, the entire Eight Circuit determined that a perpetual, royalty-free trademark license was not an executory contract and thus not subject to assumption or rejection by a licensor debtor.
The Eighth Circuit decision stands in harmony with the Third Circuit's decision in In re Exide Technologies, 607 F. 3d 957 (3d Cir. 2010). In joining the Third Circuit in adopting a similar approach to determining...
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