The U.S. Bankruptcy Code will be implementing inflation adjustments in its eligibility and exemption limits by 13.2% across various provisions. The official adjustments have been published in the Federal Register, marking the...more
Chapter 11 bankruptcy continues to be a featured menu item for struggling restaurant chains. According to Bloomberg, TGI Fridays is the latest restaurant chain to contemplate a Chapter 11 bankruptcy filing.
TGI Fridays is...more
The Small Business Reorganization Act (SBRA), enacted in 2020, codified Subchapter V of Chapter 11 of the U.S. Bankruptcy Code. Subchapter V was enacted to provide a more efficient and affordable process for small businesses...more
As the calendar turns to autumn, the United States Supreme Court (“SCOTUS”) is commencing its new term and preparing to address a monumental issue that will impact chapter 11 law and the mass tort system: the permissibility...more
10/18/2023
/ Balance Sheets ,
Bankruptcy Code ,
Certiorari ,
Chapter 11 ,
Co-Defendants ,
Commercial Bankruptcy ,
Debtors ,
Department of Justice (DOJ) ,
Dischargeable Debts ,
Mass Tort Litigation ,
Non-Consensual Rights ,
Opioid ,
Purdue Pharma ,
Reorganizations ,
SCOTUS ,
Third-Party
The holiday season is typically the most wonderful time of the year for the retail industry. However, for some retailers, the holiday season represents a last-ditch effort to stave off financial difficulties and even...more
Historically, a business (known as a debtor) filed for chapter 11 to restructure its debts owed to creditors through a plan of reorganization. The debtor would receive a discharge of any debts not required to be repaid under...more
On June 21, 2022, President Joe Biden signed into law the “Bankruptcy Threshold Adjustment and Technical Corrections Act”. The Act restores the increase of the debt limit for small businesses filing for bankruptcy under...more
For both debtors and creditors, the numbers are important in a bankruptcy proceeding. The Judicial Conference of the United States has announced that certain dollar amounts and dollar limitations in the U.S. Bankruptcy Code...more
In every insolvency or bankruptcy proceeding, there are winners and losers. Senior secured creditors are often paid in full while general unsecured creditors receive pennies on the dollar.
Typically, who gets paid and who...more
1/21/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Creditors ,
Denial of Certiorari ,
Due Process ,
General Motors ,
Insolvency ,
PBGC ,
Retirement Plan ,
SCOTUS ,
Unsecured Debt ,
Vested Benefits
Bankruptcy is a forum for the insolvent. However, financially healthy businesses and individuals are dragged into bankruptcy court against their will every day. The primary culprit is the adversary complaint filed by a...more
In a facilitative mediation, a neutral party serves as a mediator and works with the litigants to reach a settlement. The mediator has no power to rule or bind the parties to a judgment or decision, but rather facilitates a...more
3/11/2021
/ Bankruptcy Court ,
Capital Assets ,
Chapter 11 ,
Chapter 13 ,
Chapter 7 ,
Contested Proceedings ,
Creditors ,
Debtors ,
Disclosure ,
Liquidation ,
Mediation ,
Mediators ,
Reorganizations ,
Settlement
In February 2020, Congress established a new subchapter of Chapter 11 of the Bankruptcy Code aimed at easing the burden and costs of reorganization for small businesses. This new Subchapter V, enacted under the Small Business...more
As many industries continue to struggle due to the ongoing pandemic, and invoices remain unpaid, it is more important than ever for businesses to understand their setoff and recoupment rights. These rights can be critical to...more
Some of the key amendments include: The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), enacted in March, 2020, established the Paycheck Protection Program (PPP) which offered forgivable loans to...more