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