PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. The debtor operated 28 franchise restaurants primarily in the Sun Belt region. The debtor encountered financial problems related to the onset of the COVID-19 pandemic, resulting in a chapter 11 filing in April 2021.

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. 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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PBWT

JULY 1, 2020

As retail and other tenants fall further behind on rent and other obligations, lessors are finding themselves drawn into more and more Chapter 11 bankruptcy cases. Yet, while it may not always feel that way to them, landlords actually have it better than most creditors in bankruptcy.

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Collections Law

NOVEMBER 4, 2021

Prejudgment attachments allow us to identify the debtor’s assets before the court issues a judgment, which we can then seize to satisfy the judgment. How the keeper attachment works In Massachusetts, the court may decide to appoint a “keeper” to collect cash from the debtor on your behalf.

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Burr Forman

FEBRUARY 15, 2021

SlideBelts is an internet retail company and debtor in bankruptcy. The US Department of Justice announced the first civil settlement involving allegations of fraud against a PPP borrower. SlideBelts Inc. received a PPP loan under the CARES Act.

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Government Financial Institution Loans Retail 52

PBWT

JUNE 23, 2020

and most of its affiliates filed for bankruptcy on May 22, 2020. This was just one corporate failure among many in the midst of the COVID-19 pandemic; but, a novel strategy by Hertz to raise capital to fund its bankruptcy has raised eyebrows instead. Hertz Global Holdings Inc. 1] The Court approved the motion the very next day.

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ABI

JANUARY 19, 2024

The United States Court of Appeals for the Second Circuit held that only a party to an assumed contract can assert a cure claim against the debtor in In re George Wash. 4] Under the Ground Lease, Debtor was responsible for hiring and paying contractors for developing the retail portion of the George Washington Bridge Bus Station. [5]

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Debtor Bankruptcy Unsecured Creditor Retail 40

Debt RR

DECEMBER 13, 2019

Many businesses are both debtors and creditors. Businesses that file for Chapter 11 bankruptcy have all of their affairs (debts, assets, or otherwise) reorganized by a judge. It’s a last-ditch effort to avoid a Chapter 7 liquidation bankruptcy. bankruptcy code for personal bankruptcies. The question is who?

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Chapter 7 bankruptcy Bankruptcy Creditors Retail 42

Debt RR

DECEMBER 13, 2019

There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail. There are two other conditions that must be met for a creditor to serve papers on a debtor. The ability to sue a debtor depends on the whether they have a registered address in the court’s geographic jurisdiction. File for Bankruptcy.

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Fraser

JULY 7, 2020

While much attention has been paid to the struggles of businesses, such as restaurants and retail establishments, to survive the economic downturn wrought by the COVID-19 pandemic, those who lend to such businesses for the purchase of real estate are also dealing with the fallout. In some instances, this means the possibility of foreclosure.

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PBWT

SEPTEMBER 28, 2022

Now the country awaits the outcome of the union member votes (which we may not know until mid-November), but even if the members approve the deal, the retail sector will still face empty shelves, job vacancies and surging inflation. In fact, the retail industry has been facing economic headwinds for years.

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BN Lawyers

APRIL 1, 2019

A gasoline retailer defaults on its obligations under an ongoing Franchise Agreement that it has with a brand name in the oil & gas industry. How about if the franchisee/retailer files for bankruptcy protection? It is intended to protect distributors and retailers. Franchisors are commonly characterized as suppliers.

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Bankruptcy Retail Debtor 40

Nexa Collect

APRIL 11, 2021

For example, consider leisure and hospitality workers, whose employment fell by over 20% compared to 2019, or book retailers and news dealers, who recorded a 48.9% These are industries where debtors will be hard-pressed to find money to pay debts for no other reason than that they are unemployed. drop from 2019.

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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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