Court Nullifies Trademark Transfer and Agreements; Orders Restoration of "Net4" and Return of Business Assets to Debtor.

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Court Nullifies Trademark Transfer and Agreements; Orders Restoration of "Net4" and Return of Business Assets to Debtor.

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....CIRP proceedings - illegal transfer of IPR and business by the corporate debtor - the declaration of assignment of trademarks in the name of R1 is declared null and void and execution of Master Reseller Agreement in favor of Net4 Network is invalid, and direct R1 to restore the trade name "Net4" to the Corporate Debtor and R2 to restore the business of the corporate debtor it has taken through Master Reseller agreement from the Corporate Debtor with immediate effect. Likewise, we hereby declare the Share Transfer Agreements reflecting transfer of Pipetel shares held by CD to Trak Online and transfer of Net4 Network shares to Trak Online as null and void. - Tri....

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Court Nullifies Trademark Transfer and Agreements; Orders Restoration of "Net4" and Return of Business Assets to Debtor.