“Messrs. Woods and Wu are fraudsters,” Judge Christopher S. Sontchi declared in the opening salvo of his scathing opinion. According to the former Chief Judge of the U.S. Bankruptcy Court for the District of Delaware, Woods...more
11/29/2021
/ Bankruptcy Court ,
CARES Act ,
Civil Contempt Orders ,
Coronavirus/COVID-19 ,
Debtors ,
Delaware ,
Evidence ,
Fraud ,
Paycheck Protection Program (PPP) ,
Preliminary Injunctions ,
Relief Measures
U.S. 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.
BR Healthcare Solutions (the “Debtor”)...more
10/20/2021
/ Bankruptcy Court ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Creditors ,
Debtors ,
Department of Health and Human Services (HHS) ,
Healthcare ,
Paycheck Protection Program (PPP) ,
Small Business
It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? Will a court dismiss the case so you can seek a loan?...more
3/9/2021
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Creditors ,
Debtors ,
Motion to Dismiss ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Small Business
Most bankruptcy courts have altered their practices and procedures in light of COVID-19. Below is a summary of the changes to practices and procedures in the United States Bankruptcy Courts for the Southern District of New...more
COVID-19 has sent the price of oil per barrel in a downward spiral. The plummet in business travel, cruises, vacations, weekend getaways, and non-essential travel have all led to a decreased demand for oil.
The resultant...more
COVID-19 is taking an alarming and unfortunate toll on our country’s population. Each day, we collectively face daunting health risks, and the economic cost to individuals and businesses alike has already been, and will...more
Most bankruptcy courts have altered their practices and procedures in light of COVID-19. Below is a summary of the changes to practices and procedures in the United States Bankruptcy Courts for the Southern District of New...more