Recent Developments

Section 365(n) And Licensee Rights. I have discussed in the past how Section 365(n) was added to the Bankruptcy Code to protect licensees of intellectual property in the event the licensor files bankruptcy.

It's been a few years since decisions from the United States Bankruptcy Courts for the Southern District of New York, and later from the Southern District of Texas, examined whether hedge funds and other investors could be required to disclose the details of their trades when they form an ad hoc committee or group in a Chapter 11 case.  Last week, Judge Mary Walrath of the United States Bankruptcy Court for the District of Delaware issued a decision in the Washington Mutual, Inc.

Last week, Google launched a new feature on its Google Scholar specialized search engine that enables full-text searching of published federal and state court opinions, as well as articles in certain legal journals. Users can access the new features by selecting the "Legal opinions and journals" bullet on the Google Scholar main search page. The cases in the Google Scholar database generally include official reporter citation page numbers throughout the decision.

Nearly every year, changes are made to the set of rules that govern how bankruptcy cases are managed -- the Federal Rules of Bankruptcy Procedure. Normally, the changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. This year, the amendments to the national bankruptcy rules are mainly the result of statutory changes enacted by Congress. The new amendments will take effect on December 1, 2009.

The Fall 2009 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area.