Throughout the latter half of 2022, filing for bankruptcy became a reality for many high-profile crypto firms. The resurgence of “crypto winter” has brought many crypto-related entities to their proverbial knees. Indeed, in...more
As multiple bankrupt cryptocurrency Chapter 11 cases begin to pick up steam, depositors of cryptocurrency on the bankrupt exchanges have many questions.
Originally published in Law360 on August 22, 2022....more
On July 18, the maxim “not your keys, not your coin” took on a whole new meaning for customers of the bankrupt cryptocurrency exchange Celsius Network LLC, which had filed Chapter 11 in the Bankruptcy Court for the Southern...more
The SBA’s Rules Exclude Bankruptcy Debtors From Relief Under the Paycheck Protection Program -
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which was signed into law on March 27, funnels aid to small...more
An increasing number of businesses — even those that have traditionally been financially and operationally sound — are now experiencing unanticipated revenue losses as a result of the coronavirus pandemic. Companies may find...more
3/20/2020
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Free and Clear Transactions ,
Furloughs ,
Liquidity ,
Personal Liability ,
Reorganizations ,
Sale of Assets ,
Vendors ,
WARN Act
A key tenet of reorganization under Chapter 11 is that if the debtor’s plan impairs creditors, at least some of those creditors must agree to the plan. More specifically, “if a class of claims is impaired under the plan, at...more