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Buyer does not acquire patent license agreement from chapter 7 bankruptcy trustee

This case involved the purchase of a patent license agreement out of bankruptcy of several related companies. For purposes of illustration the facts have been modified by describing the sale out of bankruptcy of a patent license agreement from just

Posted in bankruptcy sale, distressed business acquisitions, executory contracts

IT vendor can’t force buyer to assume vendor’s contract with bankrupt business just because vendor provided transitional services to buyer under bankrupt’s vendor contract

Seller was a membership buying service headquartered in Merrillville, Indiana (a 40-minute southeast drive from Chicago). Seller was owned by 2 private equity firms, based in Washington, D.C. and Miami, Florida. Members of Seller paid a fee, which entitled them

Posted in bankruptcy sale, buyer assumption of seller's contracts, distressed business acquisitions, transitory services contracts

Buyer of large nursery business in bankruptcy is winning right to assume 3 crucial real estate leases

Seller, based in Temecula, California, owned and operated one of the largest greenhouse operations in the country. Seller filed for chapter 11 bankruptcy protection on May 29, 2018. As part of the bankruptcy, the bankruptcy court approved Seller’s sale of

Posted in bankruptcy sale, distressed business acquisitions, leases

Court considers whether bankruptcy sale of Chrysler shields buyer from pre-closing claim for a defective airbag

This case involves the purchase by Buyer of substantially all of the assets of the distressed auto business of Seller, (Chrysler). The 2009 sale occurred in Seller’s chapter 11 bankruptcy reorganization in which Seller sold most of its assets to

Posted in actual notice to known creditors, bankruptcy sale, distressed business acquisitions

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