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The U.S. Court of Appeals for the Ninth Circuit recently issued the first circuit-level decision regarding what sort of damages are subject to the cap imposed by Bankruptcy Code '502(b)(6) on landlords' claims arising from a debtor's rejection of a nonresidential real property lease.
The decision in Saddleback Valley Community Church v. El Toro Materials Co., No. 05-56154, 2007 U.S. App. LEXIS 22991 (9th Cir. Oct. 1, 2007), unsettled existing law, holding that damages corresponding to 'tort-like' conduct by the debtor-tenant related to the lease are not capped by '502(b)(6). If the result is followed by other courts, debtors may face a new uncertainty as they decide how to deal with their leases in bankruptcy.
Limitation on Lease Rejection Damages
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This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
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