ABI

JANUARY 22, 2023

2] On March 5, 2020, Art Van Furniture, LLC (“Art Van'') “publicly announced that it was liquidating and going out of business.” [3] 3] Subsequently, on March 8, 2020, Art Van filed its petition for relief under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) to implement a sale of the business.

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Collection Industry News

JANUARY 27, 2024

Bankruptcies fell especially sharply after the pandemic began in early 2020, despite some COVID-related disruptions to the economy. Despite the recent increases, the newest totals remain far lower than in December 2010, when filings peaked at just less than 1.6

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PBWT

DECEMBER 13, 2020

Cuker Interactive, LLC filed a Chapter 11 bankruptcy petition on December 13, 2018, in the United States Bankruptcy Court for the Southern District of California. 2002), the Ninth Circuit held that the “interest at the legal rate” due to general unsecured creditors of a solvent chapter 11 debtor is the federal judgment rate. [6]

Unsecured Creditor 65

Unsecured Creditor Bankruptcy Debtor Creditors 65

Troutman Sanders

FEBRUARY 11, 2021

February 11, 2021. 11:00am – 12:00pm ET. Presented by the ABA Section of Litigation Consumer Litigation Committee, David Anthony and colleagues discussed the significant developments in Fair Credit Reporting Act litigation from 2020, with a particular focus on cases that involve class action issues.

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ABI

JANUARY 25, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 363 of title 11 of the United States Code (the “Bankruptcy Code”) allows a debtor to sell its bankruptcy assets free and clear of liens and interests only if certain circumstances are met. [1] 22] [1] See 11 U.S.C. § 2] 11 U.S.C. §

Debtor 40

Debtor Bankruptcy Judgment Trade 40

PBWT

OCTOBER 19, 2021

Gargotta rejected a debtor’s attempt to use “CARES Act” funds, which it did not actually qualify for, to pay creditors in its chapter 11 case. But in January of 2020, the Debtor’s principal “decided to close the nursing home [] due a sustained period of net operating losses. 5, 2021) (brackets omitted). [2]

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Creditors Debtor Bankruptcy Healthcare 65

Receivables Control

MAY 11, 2020

This list was created on May 11, 2020 and it is subject to change quickly as the health, economic, and political landscapes continue to change rapidly. Alabama: Effective May 11, limited operations of restaurants, hair and nail salons and gyms are allowed at reduced capacity. As of May 11, restaurants can open at half capacity.

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Retail Manufacturing Construction Healthcare 67

PBWT

OCTOBER 5, 2020

On September 29, 2020, the House Judiciary Committee advanced H.R. 7370, Protecting Employees and Retirees in Business Bankruptcies Act of 2020, a Democrat-sponsored bill, to the full chamber. Some of the more salient provisions of the bill are listed below; for the complete text of H.R. 7370, click here.

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PBWT

AUGUST 24, 2020

I don’t know if Congress foresaw, when it enacted new Subchapter V of Chapter 11 of the Code [1] in the Small Business Reorganization Act of 2019 (“SBRA”), that debtors in pending cases would seek to convert or redesignate their cases as Subchapter V cases when SBRA became effective on February 19, 2020, but it was foreseeable.

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Burr Forman

DECEMBER 18, 2020

Restaurants were hit particularly hard by the COVID-19 pandemic in 2020 due to closures, restrictions on capacity and already-thin margins that precede the economic downturn. The CARES Act expanded the debt cap to $7,500,000.

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PBWT

APRIL 6, 2021

It is well-settled that if you are a debtor in chapter 11, you do not have the unfettered right to convert the case to a chapter 7 liquidation. In 2017, the debtor filed chapter 11, following years of ultimately unsuccessful litigation stemming, in part, from the co-trustees’ meritorious countersuit. 20-33, 2021 WL 941435 (B.A.P.

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Unsecured Creditor Debtor Bankruptcy Creditors 65

UK debt collections

JANUARY 31, 2024

Company insolvencies in England and Wales fell to their lowest since 1989 in 2020, amid £77billion of government-backed Covid-19 emergency loans and barriers to creditors taking court action. This was the highest rate since 2014, but considerably lower than the rate of 94.8 during the 2008 global financial crisis.

Trade 75

Trade Government Banks Bankruptcy 75

Credit Corp

JUNE 11, 2021

For the study, figures from between 2010 and 2020 were analyzed to draw a series of conclusions about the current state of the real estate market. There are just 11 cities in which the income spent on mortgage has remained mostly unchanged in the past decade. Study Highlights. All are located in California.

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Loans 98

ABI

JANUARY 19, 2024

In evaluating the Texas Business & Commerce Code and title 11 of the United States Code (the “Bankruptcy Code”), the United States Bankruptcy Court for the Southern District of Texas, in In Re Burts Construction, Inc., 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3] 2023) [2] Id. [3] Code Ann. § Ass'n, Inc.,

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Troutman Sanders

SEPTEMBER 17, 2020

Troutman Pepper attorney Ron Raether will present during the virtual panel, “Private Causes of Action Under CCPA,” at NetDilegence’s Cyber Risk Summit on October 6, 2020. The panel is from 11:15 a.m. – PST and will cover the following trends: Litigants. Industries. Impact of COVID-19 on current trends. Retroactive.

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MAY 14, 2020

11] [1] [link] [2] In re Progressive Solutions, Inc. , 21, 2020). [3] March 5, 2020). [5] 30, 2020). [8] 8] 2020 WL 1867898 (Bankr. 30, 2020). [8] 8] 2020 WL 1867898 (Bankr. 10, 2020). [9] 8:18-bk-14277-SC (Bankr. 3] [link] [4] No. 19-31830-hcm (Bankr. 6] Progressive Solutions, Inc. at 8, 10.

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Debtor Bankruptcy 52

UK debt collections

APRIL 21, 2022

Investigators uncovered that Junaid Dar legitimately applied for a Bounce Bank Loan after he submitted accurate financial statements and in May 2020, received £13,000. Junaid Dar is now banned from running companies for 11 years, effective from 27 April 2022.

Loans 87

Loans Bankruptcy Financial Institution Creditors 87

Troutman Sanders

NOVEMBER 27, 2023

Between September 30 and November 11, 2020, the defendant placed 17 calls to the daughter at a number it believed belonged to the mother. The matter involved two plaintiffs, a mother and her daughter. When the mother became delinquent on her credit card account, the creditor hired the defendant to collect the debt.

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Burr Forman

AUGUST 20, 2020

Grossman dismissed the Seven Stars bankruptcy case [1] based on the debtor’s election to proceed under Subchapter V of Chapter 11 [2] after the expiration of the statutory deadlines for filing a plan and holding a status conference. Seven Stars”) filed its Chapter 11 case on June 5, 2019. The Small Business Reorganization Act.

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PBWT

AUGUST 18, 2020

Yet, as has been widely reported, debtors in chapter 11 cases are not allowed to receive PPP loans. [1] 1] This prohibition is due, in large part, to the historical nature of chapter 11 debtors’ exclusion from obtaining loans funded through the 7(a) and 504 small business administration (“SBA”) loan programs.

Loans 62

Loans Debtor Bankruptcy Education 62

UK debt collections

JANUARY 25, 2021

Around 630,000 businesses were experiencing significant financial distress in the last quarter of 2020, ahead of the current lockdown, according to research by the restructuring firm Begbies Traynor. The latest research for Q4 2020 recorded the largest numerical quarterly leap (73,000) in financially distressed companies since Q2 2017.

Construction 93

Construction Financial services Government Trade 93

Burr Forman

MARCH 15, 2021

Prior to the passage of The American Rescue Plan Act of 2021 on March 11, 2021 (the “Rescue Act”) the employee retention credit, as amended by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the “Relief Act”), was set to expire for wages paid after June 30, 2021.

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PBWT

MARCH 3, 2022

One such debtor-paid fee, at issue in Siegel , is the quarterly fee imposed on disbursements that chapter 11 debtors make to creditors. § 1930(a)(7) (2020). The Judicial Conference imposed such a requirement and from 2002 until January 1, 2018, all chapter 11 debtors paid fees according to the same disbursement formula.

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Troutman Sanders

SEPTEMBER 8, 2021

Sadia will be moderating the panel, “How 2020 Has Blurred Attorney Client Privilege in Incident Response” on Tuesday, October 5, 2021 at 11:40 a.m. This conference features two full days of panel discussions by leading cyber experts who will share their insights on hot topics, trends, and cybersecurity concerns.

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Government 52

PBWT

AUGUST 13, 2020

On Friday August 7th, the NAACP filed a motion to intervene in the chapter 11 bankruptcy cases of Purdue Pharma L.P. 11] And according to recent WSJ reporting, the DOJ is seeking as much as $18.1 11] And according to recent WSJ reporting, the DOJ is seeking as much as $18.1 August 7, 2020) (“ Motion ”). [2]

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Troutman Sanders

AUGUST 4, 2020

On June 29, 2020, the United State House of Representatives passed the Protecting Your Credit Act of 2020, H.R. Finally, the passing of the Protecting Your Credit Act of 2020 (H.R.

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Government 64

UK debt collections

NOVEMBER 23, 2021

The research also found that the average amount owed to SMBs in late payments has risen 11% year-on-year, up from £19,224 in September 2020, as the challenges experienced during recent lockdowns continue to have a significant impact. Almost two thirds of the invoiced amount owed to small businesses was overdue in September.

Debt Recovery 96

Debt Recovery Collections Collection Agencies Collections Agency 96

PBWT

MAY 20, 2021

United States Bankruptcy Judge Harlin Hale recently dismissed the National Rifle Association’s Chapter 11 petition as not filed in good faith. On January 7, 2021, the NRA petitioned for Chapter 11 bankruptcy in the Northern District of Texas (the “Petition”). May 11, 2021) (“ In re NRA ”).

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ABI

JANUARY 22, 2023

filed for chapter 11 bankruptcy due to the potential liabilities they were facing following the California wildfires. [2] 13] However, the Court here explains that Cardelucci does not control, as “ Section 726(a)(5) only applies to impaired chapter 11 claims.” [14] at *8 (citing 11 U.S.C. 339, 344 (1911); 11 U.S.C. §

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Debtor Bankruptcy Creditors Unsecured Creditor 40

ABI

JANUARY 13, 2021

7] However, before the receiver obtained the money to implement its plan, the Debtor filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) with the United States Bankruptcy Court for the Central District of California. [8] 19-1105-GSL, 2020 WL 1846940, at *1 (B.A.P.

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Jimerson Firm

JULY 2, 2021

In particular, it considers the following five bases for an award of attorney’s fees against pro se litigants: (1) Rule 11 of the Federal Rules of Civil Procedure, (2) Rule 37 of the Federal Rules of Civil Procedure, (3) 28 U.S.C. 1927 applies to a broader range of litigation activities than Rule 11 or Rule 37. In Haines v.

Healthcare 98

Healthcare 98

PBWT

APRIL 17, 2022

Equitable mootness is judge-made doctrine that arises during appeals of bankruptcy court orders, most often appeals of orders confirming chapter 11 plans. In May 2020, it filed for chapter 11 and, several months later, confirmed a plan. at *8 and 11. ” Id.

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Debtor Bankruptcy 65

ABI

JANUARY 13, 2021

2] Upon the liquidators’ request, the United States Bankruptcy Court for the Southern District of New York (“SDNY”) issued an order recognizing the Cayman Island liquidation as a “foreign main proceeding” under chapter 15 of title 11 of the United States Code (the “Bankruptcy Code”). [3] 1334 (2020); 28 U.S.C. 1452 (2020). [8]

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PBWT

JUNE 23, 2020

and most of its affiliates filed for bankruptcy on May 22, 2020. On June 11, citing volatile trading activity in its common stock, Hertz sought emergency approval from the Bankruptcy Court to sell up to $1 billion of authorized but unissued shares of its common stock pursuant to an existing shelf registration. [1] 20-11218 (Bankr.

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Debtor Bankruptcy Retail Trade 52

PBWT

MARCH 7, 2021

The issue arose recently where a chapter 11 debtor already had DIP financing in place. It filed for bankruptcy in January 2020, the month when COVID-19 was first reported in the United States. ” On April 1, 2020, the debtor moved to dismiss the bankruptcy case. ” 11 U.S.C. § ” 11 U.S.C. §

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Debtor Bankruptcy Loans Unsecured Creditor 65

Albuquerque Law

JANUARY 19, 2023

When the Small Business Reorganization Act went into effect in 2020, it established subchapter 5 as a debt relief option for small business owners. The process of a subchapter 5 filing differs from Chapter 11 bankruptcy. However, the last few years have not been easy for small businesses in New Mexico and across the country.

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Bankruptcy Creditors Lawyers Loans 75

ABI

JANUARY 13, 2022

Corbell-Dockins (“Dockins”) and her husband filed voluntary petitions for relief under Chapter 7 of title 11 of the United States Code (the “Bankruptcy Code”) on April 2, 2020. [2] 2] In March 2020, Dockins inherited a 401(k) account owned by her deceased former partner (“Decedent”). [3] at *11–*12. [12] at *3–*4. [6]

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