Interstate Brands’s License Agreement With Lewis Brothers Bakeries Isn’t Executory

A license agreement between Interstate Brands Corporation (IBC), also known as Hostess Brands, and Lewis Brothers Bakeries, Inc. (LBB) is not executory because it is part of a larger, integrated agreement that IBC has substantially performed, the U.S. Court of Appeals for the Eighth Circuit held June 6 (Lewis Bros. Bakeries Inc. v. Interstate Brands Corp. (In re Interstate Bakeries Corp.), 2014 BL 157455, 8th Cir., 11-1850, 6/6/14).

Reversing the bankruptcy and district court’s judgment in a rehearing en banc, Judge Steven M. Colloton concluded that IBC substantially performed its obligations under the Asset Purchase Agreement and ...