The NC bankruptcy court declined to stay its approval of Performance Bicycle parent ASE’s motion to reject its contract with Ideal Bicycle and immediately cancel its trademark license agreement with the Taiwanese supplier as well as its manufacturing and marketing agreement. Ideal, which licensed the Kestrel, Fuji, Breezer and other trademarks for sale outside the U.S., had objected to the motion, noting that it made a $6 million advance payment of five years of licensing fees and also has $7.8 million of finished inventory of the licensed bikes and components that needs to be able to sell. Ideal is also ... Log in to view full article.