In re Aerobox Composite Structures, LLC
United States Bankruptcy Court for the District of New Mexico
373 B.R. 135 (2007)
- Written by Tammy Boggs, JD
Facts
Aerobox Composite Structures, LLC (Aerobox) (debtor) had a license agreement with Tubus Bauer GmbH (Tubus) (creditor), under which Aerobox was granted an exclusive license to use Tubus’s plastics technology. Aerobox could assign its license rights with Tubus’s written approval, which Tubus could not unreasonably withhold. In 2007, Aerobox voluntarily filed for Chapter 11 bankruptcy and became a debtor-in-possession. Aerobox had not decided whether to assume or assign the license agreement as part of its Chapter 11 reorganization efforts. Tubus filed a motion to compel Aerobox to reject the license agreement or to lift the automatic stay and permit Tubus to cancel the license agreement. Certain parties, including Aerobox and the unsecured creditor’s committee of Aerobox, opposed Tubus’s motion.
Rule of Law
Issue
Holding and Reasoning (McFeley, J.)
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