Key Bankruptcy Issues for Life Science Companies

Practices: Life Sciences, Business Restructuring

  • How does the looming failure of a biotech or medical device company affect the duties and potential liabilities of its management and directors?
  • What are the substantial risks bankruptcy creates for collaboration partners, licensees and licensors?
  • What practical steps can we take now and in future deals to minimize or eliminate these risks?

This teleconference provides advice on the following for management and directors of financially troubled companies, and for those in large pharma or other companies who rely on IP rights granted by, or to, troubled companies.

Jim Wilton and Geoff Davis will review basic problems, including:

  • recent developments under Delaware law concerning liability of management and directors when a company enters the "zone of insolvency;"
  • misplaced reliance on Section 365(n): how the Bankruptcy Code fails to fully protect life science licensees;
  • the risk of loss of intellectual property rights for failing licensors; and
  • the merits and weaknesses of possible solutions.
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