PBWT

OCTOBER 15, 2020

It seems to be a common misunderstanding, even among lawyers who are not bankruptcy lawyers, that litigation in federal bankruptcy court consists largely or even exclusively of disputes about the avoidance of transactions as preferential or fraudulent, the allowance of claims and the confirmation of plans of reorganization.

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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”). & Sea Girt LLC, Debtors. ,

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . Congress passed the Small Business Reorganization Act of 2019 (“SBRA”) to give small businesses a better chance to successfully reorganize under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). [1] John’s University School of Law.

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Troutman Sanders

FEBRUARY 16, 2023

On January 19, the United States Bankruptcy Court for the Western District of Virginia entered an order sanctioning a collections law firm for violating the bankruptcy discharge injunction. Gooch ( In re Skaggs ) awarded the debtor $25,000 in attorneys’ fees based on a letter he received concerning a discharged debt. Gooch, P.C.,

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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. For more details on the benefits, opportunities and requirements under Sub V bankruptcy proceedings, please read the full article here.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In In re Marlena Joy Pizzo , the United States Bankruptcy Court for the District of South Carolina held that a debtor may voluntarily contribute to her retirement plan while paying creditors under a bankruptcy plan. [1] 6] The court referred to 11 U.S.C.

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PBWT

FEBRUARY 10, 2022

“[E]nsnared between his involvement in a business that is legal under the laws of Arizona but illegal under federal law,” one debtor’s chapter 13 petition was recently dismissed due to his undisputed violations of the Controlled Substances Act. Bankruptcy Court for the District of Arizona. ” The U.S.

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Fraser

JUNE 25, 2020

economy officially entered a recession in February, 2020, one month before COVID-19 shut down much of the economy. It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . Section 523 of Title 11 of the United States Code (the “Bankruptcy Code”) generally provides that a student loan cannot be discharged unless it would impose “undue hardship” on the debtor. [1] 1] See 11 U.S.C. § Kimberly Lee. 16] . . [1] 523(a)(8). [2]

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ABI

JANUARY 13, 2022

1] In In re Al Zawawi , a bankruptcy court in Florida held that a foreign debtor does not have to meet the US debtor-eligibility requirements for a foreign representative to obtain Chapter 15 recognition of a foreign proceeding. [2] 13].

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . The Bankruptcy Court for the Western District of North Carolina, in In re Dockins , held that the funds from a 401(k) retirement account that was inherited by a debtor before she filed for bankruptcy was not property of the bankruptcy estate. [1]

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . In March of 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) in response to the Covid-19 pandemic. [i] x] The bankruptcy court considered the text of the CARES Act and the APA in its analysis. By: Meghan Paola.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. the “Debtor”) $1.5 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3]

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Fraser

JULY 21, 2020

As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . In In re The Sunshine Group, LLC. , the United States Bankruptcy Appellate Panel of the Ninth Circuit affirmed the dismissal of a bankruptcy case because it was filed in bad faith. [1] 10] A bad faith filing of a bankruptcy petition is cause for dismissal. [11]

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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. and its affiliated debtors (collectively, “ Debtors ”). [1] However, the NAACP does not appear to rely on this strategy as frequently in the bankruptcy context under Bankruptcy Rule 2018.

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Burr Forman

AUGUST 24, 2020

Cheese’s parent), many prominent companies have filed for bankruptcy protection in recent months. Most practitioners with no real exposure to bankruptcy law may be aware of the general ramifications of bankruptcy proceedings. In re Edgeworth , 993 F.2d 2d 51,56 (5th Cir.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . Under title 11 of the United States Code (the “Bankruptcy Code”), a trustee appointed to a debtor’s estate may avoid transfers made within two years before the date of the filing if the debtor received less than reasonably equivalent value in exchange.

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PBWT

MARCH 3, 2022

uniform Laws on the subject of Bankruptcies throughout the United States.” ” While Congress has general authority to establish a bankruptcy system, bankruptcy laws must be “uniform.” ” But not every aspect of the bankruptcy system is the same across every judicial district. In Siegel v.

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PBWT

OCTOBER 19, 2021

Bankruptcy Judge Craig A. 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. By February 4, 2020, all of the remaining patients were transitioned out of the nursing home to other providers.”

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PBWT

JULY 23, 2020

Our February 26 post [1] reported on the first case dealing with the question whether a debtor in a pending Chapter 11 case may redesignate it as a case under Subchapter V, [2] the new subchapter of Chapter 11 adopted by the Small Business Reorganization Act of 2019 (“SBRA”), which became effective on February 19. [3]

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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. The debtor had married into a family that owned real estate assets in New Mexico, Colorado and Arizona and lived off income from two spendthrift trusts formed by his late wife.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . Under section 365(d)(3) of title 11 of the United States Code (the “Bankruptcy Code”), a trustee or debtor in possession must generally pay rent in accordance with the terms of an unexpired lease. ii] On February 17, 2020, debtor Pier 1 Imports, Inc.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . The Small Business Reorganization Act of 2019 (“SBRA”) created a new subchapter V of chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). [1] 2] Under Subchapter V, an individual may be a debtor if they are a “person” with less than $7.5

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . i] The Small Business Administration (“SBA”) swiftly implemented several regulations regarding PPP eligibility, one of which disqualified debtors in a bankruptcy case from getting PPP loans. [i] By: Mary T. John’s University School of Law. statutory right” under 5 U.S.C. §

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PBWT

FEBRUARY 1, 2021

Bankruptcy Judge Karen B. Ruling on plaintiff-debtor Southland Royalty Company LLC’s motion for partial summary judgment, Judge Owens found that Halliburton did not obtain a lien on Southland’s production of oil, natural gas, or their proceeds. Perfect your liens on time or you may lose them. in her recent decision.

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. A unique opportunity for Chapter 11 restructuring of small businesses with up to $7.5 million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million of third-party debt is set to expire early 2021. By Jerrold L.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. Under section 1521 of title 11 of the United States Code (the “Bankruptcy Code”), a bankruptcy court may enter an order enforcing a foreign restructuring in the United States. [1] First, the location of those who actually manage the debtor.

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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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PBWT

OCTOBER 20, 2020

In an important affirmation of the rights and duties of a creditors’ committee, Bankruptcy Judge David T. 1] Prior to filing for bankruptcy in 2018, the Roman Catholic Church of the Archdiocese of Santa Fe reportedly made transfers totaling more than $150 million to certain trusts. In In re Fox , 305 B.R. 912 (10th Cir.

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PBWT

SEPTEMBER 24, 2020

Most bankruptcy courts have altered their practices and procedures in light of COVID-19. Below is a summary of some of the changes to practices and procedures in the United States Bankruptcy Courts for the Southern District of New York, the Eastern District of New York, and the District of Delaware. phone call or email).

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Collection Industry News

AUGUST 18, 2020

Moreover, the Dutch courts are generally handling bankruptcy petitions and requests for pre-judgment attachment in the same way as they did before COVID-19. The temporary act’s purpose is to protect Dutch companies from avoidable bankruptcies and limit the damage caused by the COVID-19 crisis as much as possible. Essence of act.

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Consumer Financial Services Law

JULY 21, 2021

Bankruptcy Court for the Eastern District of North Carolina. The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). Beckhart , 2020 U.S.

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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] If enacted, bankruptcy judges could permit debtors to obtain PPP loans. These loans would be granted superpriority status, receiving the highest priority as administrative expense claims against a debtor's estate.

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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. Plan proponents argue that reversal on appeal would wreak havoc on a debtor’s bargained-for reorganization. at *8 and 11. Roberts Farms, Inc. ” Id.

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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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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff The Worker Adjustment and Retraining Notification Act ("WARN Act") provides that “an employer shall not order a plant closing or mass layoff until the end of a 60-day period after the employer serves written notice of such order” to each impacted employee. [1]

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