ABI

JANUARY 22, 2023

Rachel McGarry St. John's University School of Law American Bankruptcy Institute Law Review Staff In In re Raza, a bankruptcy court in Virginia overruled a trustee’s objection to certain of the debtor’s claimed exemptions and held that a small business owner who received an Economic Injury Disaster Loan (“EIDL Loan”) with the U.S. Small Business Administration (“SBA”) was able to use those funds as reasonable earnings for himself, “which in turn may be exempted from the bankruptcy estate.

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ABI

JANUARY 22, 2023

Zachary Rozycki St. John's University School of Law American Bankruptcy Institute Law Review Staff Under section 362 of title 11 of the United States Code (the “Bankruptcy Code”), the filing of a bankruptcy petition results in an automatic stay that generally enjoins any creditor from taking any action against a debtor or its property. [1] The automatic stay is not permanent and may be terminated upon a showing of “cause.” [2] The automatic stay may also be terminated as to property if th

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ABI

JANUARY 22, 2023

Malorie Ruggeri St. John's University School of Law American Bankruptcy Institute Law Review Staff Article I, Section 8, Clause 4, of the United States Constitution contains the “Bankruptcy Clause,” which vests Congress with the power to establish “uniform Laws on the subject of Bankruptcies throughout the United States.” [1] The Clause’s requirement that the bankruptcy laws be “uniform” is not a strictly construed requirement. [2] Congress reserves the right to draft legislation depending o

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ABI

JANUARY 22, 2023

Lauren M. Shoemaker St. John's University School of Law American Bankruptcy Institute Law Review Staff Under title 11 of the United States Code (the “Bankruptcy Code”), a debtor may be discharged of his or her debts. [1] However, certain debts are not dischargeable. [2] In particular, a debt obtained by false representation or false written statements cannot be discharged. [3] In In re Swing House Rehearsal and Recording, Inc. , a California bankruptcy court held that debts owed to a credi

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Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

ABI

JANUARY 22, 2023

Paul Spagnoli St. John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i] For example, section 362(d)(3) of the Bankruptcy Code provides that relief from the automatic stay as to single asset real estate may be granted upon a request by a creditor with an interest in such property, unless, no later than 90 days after the entry of

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ABI

JANUARY 22, 2023

Rayla Aberman St. John's University School of Law American Bankruptcy Institute Law Review Staff In In re PG&E Corp. , the United States Court of Appeals for the Ninth Circuit held that solvent-debtors are required to pay unimpaired creditors their bargained for post-petition interest rate. [1] In January 2019, PG&E Corp. filed for chapter 11 bankruptcy due to the potential liabilities they were facing following the California wildfires. [2] In addition to the wildfire related cla

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ABI

JANUARY 22, 2023

Audrey Victor St. 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] In In re Art Van Furniture LLC, a bankruptcy court in Delaware held that COVID-19 falls within the scope of the "unforeseen business ex

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