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Article Date: December 2018
Word Count: 237

Licensee Objects to Rejection Contract by Bankrupt Performance Bicycle

Taiwanese bicycle manufacturer Ideal opposed Performance Bicycle’s motion to reject a licensing deal that gave it the right to manufacture products for the retailer under brands like Kestrel, Fuji, Breezer and others and sell also sell those products outside the U.S. Performance wants the contract terminated because it says it is burdensome and would diminish its ability to maximize the estate, but Ideal noted that it paid $6 million in licensing fees upfront a year ago for a five-year term and Performance’s motion now seeks to prevent Ideal from selling any of the bikes it made in inventory, including parts, ... Log in to view full article.


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