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Michigan Bankruptcy Exemptions Set to Rise Significantly on March 1

As we reported last year, every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The federal dollar amounts last were increased on April 1, 2022, and are not slated for...more

Eleventh Circuit Bolsters Preference Defense by Holding That 503(b)(9) Claims Do Not Reduce the Subsequent New Value Defense

Preference defense received an important boost this week when the Eleventh Circuit decided that invoices paid under 11 U.S.C. § 503(b)(9) can count as "new value" in defending against preference claims. It is the first...more

What Do You Do If a Debtor Defaults on Its Confirmed Bankruptcy Plan?

A recent opinion from the Michigan Court of Appeals explained that when a debtor defaults under a confirmed chapter 11 bankruptcy plan, a creditor can enforce its rights in state court, and perhaps also in the bankruptcy...more

Will the Real Party in Interest Please Stand Up?

In Michigan, the general rule is that only a real party in interest may initiate a lawsuit. MCR 2.201(B). Although it is usually easy to identify the proper party (or parties), it becomes harder if a would-be plaintiff files...more

To Reclaim or Not to Reclaim, That Is the Question

With many bankruptcy cases looming on the horizon as a result of the pandemic and the measures taken to contain it, prudent creditors are reacquainting themselves with their rights, including the right of reclamation....more

Recent and Upcoming Changes to Bankruptcy Law That Affect Your Rights as a Creditor

The Small Business Reorganization Act of 2019 ("SBRA"), the Honoring American Veterans in Extreme Need ("HAVEN") Act, and the Family Farmer Relief Act were enacted into law on August 23, 2019. This alert summarizes these...more

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