What effect does a licensor filing for insolvency have on a licence?
The answer depends not only on the terms of the licence agreement and the law that governs that agreement, but also on the laws of the place where the insolvent party is located.
Under Swiss law, a contract will not automatically be terminated due to the opening of bankruptcy proceedings over a Swiss company. Whether a contract can be terminated on insolvency depends on the law and the agreement that governs the contractual relationship.
If there is no option for termination, the bankruptcy officer of an insolvent company may choose whether to enter into a contract. If the officer chooses not to do so, or does not make an express choice, the cou…
Read the full article at: http://www.internationallawoffice.com/Newsletters/Insolvency-Restructuring/Switzerland/FRORIEP/Insolvency-and-licences