These people at Tempnology made some clothing and shit meant for people doing physical activities, that helped keep the wearer cooler. Not cooler like Chuck Norris, but cooler like the other side of the pillow.
Mission Product agreed to sell their product, so they had rights to the sell the product, deploy the technology in their own products, and to use Tempnology’s trademarks, logos, and shit.
Tempnology however sucked at business, and ran up operating costs to the point where they had to file bankruptcy. As a result, they sought to rescind their contract with Mission because of the financial strain that contract put on them. Basically, they wanted more money than the contract entitled them to.
Mission was like, “WTF, man? We have a deal, bitch!”
Tempnology was like, “Bankruptcy, motherfucker. Have you heard of it? Fuck you, and your contract too!”
Mission was then like, “Your inability to run your god damn company doesn’t mean that we should lose money, not being able to exploit the contract we have with you. You gave your word, douchebag!”
I assume Mission were using Tempnology’s technology in their own products where Tempnology wasn’t making much money off of it, because they weren’t making it themselves. But I’m guessing, so don’t quote me on that shit.
We all know bankruptcy puts a hold on debtors, but it also allows for the potential rejection of what the case referred to as executory contracts, which are basically contracts still in effect and not completed (or fully executed).
SCOTUS didn’t feel sorry for Tempnology at all, though. They were luck, “Screw your bankruptcy. Mission can keep exploiting your technology because you all had an agreement. You don’t get to reject that agreement entirely because you hired a shitty accountant or something.”
Judgement for Mission Holding 8:1. Gorsuch dissented, not even seeing how Mission was being unfairly damaged here. Maybe the other eight can explain it to him.