Section 365 Of The Bankruptcy Code

Sections 365 e 1 and 2 a restate section 365 e of h r.

Section 365 of the bankruptcy code. For more on that see this post by bob eisenbach on his in the red blog. Section 365 of the bankruptcy code provides that a debtor subject to the court s approval may assume or reject any executory contract or unexpired lease of the debtor 11 u s c. Section 365 n of the bankruptcy code.

If in bankruptcy the debtor or trustee rejects a license under section 365 n a licensee can elect to retain its rights to the licensed intellectual property. Patentable inventions and patent applications. Analyzing executory contracts unexpired leases find out what organizations should consider when executory contracts or unexpired leases are analyzed during a chapter 11 reorganization.

Section 365 n of the bankruptcy code only applies to licenses of intellectual property in the context of a licensor bankruptcy. Section 365 n of the united states bankruptcy code 11 u s c. The parties shall retain and may fully exercise all of their respective rights and elections under the bankruptcy code.

8200 as passed by the house. Today i spent some time considering section 365 n of the u s. Under section 365 d 4 of the bankruptcy code an unexpired lease of nonresidential real property is automatically deemed rejected if a debtor lessee does not assume such lease within 120 days of its bankruptcy filing or within 210 days with court permission.

Section 365 of the us bankruptcy code. Sections 365 e 2 b expands the section to permit termination of an executory contract or unexpired lease of the debtor if such contract is a contract to make a loan or extend other debt financing or financial accommodations to or for the benefit of the debtor or for the issuance of a security of the debtor. Moreover section 365 n applies only to the following types of intellectual property.

This provision is a powerful tool because it allows a chapter 11 debtor to assume agreements that will be beneficial to restructuring efforts while. 365 provides that the trustee subject to the court s approval may assume or reject any executory contract or unexpired lease of the debtor on the face of the statute it would appear an oil and gas lease may be rejected in bankruptcy as an unexpired lease. All rights and licenses granted under this agreement are and shall otherwise be deemed to be for purposes of section 365 n of the united states bankruptcy code the bankruptcy code licenses of rights to intellectual property as defined under section 101 35a of the bankruptcy code.