News & Analysis as of

Chapter 11 Consolidated Appropriations Act (CAA)

Miller Canfield

Sunset of Certain Bankruptcy Code Changes

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As we previously reported, the Bankruptcy Code saw many changes in 2020 and 2021. Some of the changes that were enacted under the Consolidated Appropriations Act, 2021 ("CAA") will soon end....more

Williams Mullen

Subchapter V of Chapter 11: New Rules and New Players to Help with Small Business Reorganization

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Last year, while your life shifted to monitoring COVID-testing statistics, masking protocols, and your progress toward finding the end of the internet, a new facet of Chapter 11 of the Bankruptcy Code came into being. You may...more

Lowenstein Sandler LLP

Preference Defense In the Wake Of The Pandemic: A Primer

Nothing is more frustrating to a trade creditor holding a large unpaid balance owed by a debtor in bankruptcy than the risk that payments the trade creditor received before the debtor filed bankruptcy may be clawed back by...more

Bowditch & Dewey

The Impact of Recent Amendments to the United States Bankruptcy Code on Lenders

Bowditch & Dewey on

On March 27, 2021, President Biden signed into law the COVID-19 Bankruptcy Relief Extension Act (the Extension Act). The Extension Act temporarily extends certain bankruptcy relief provisions that were enacted as part of the...more

McCarter & English, LLP

Chapter 11 Debtors With Confirmed Plans Are Now Eligible For PPP Loans

The Small Business Administration (SBA) published new guidance declaring Chapter 11 debtors with confirmed plans as eligible for Paycheck Protection Program (PPP) loans. The new guidance creates an exception to the SBA’s...more

Levenfeld Pearlstein, LLC

CARES Act Bankruptcy Provisions Extended

On March 27, 2021, President Biden signed the “COVID-19 Bankruptcy Relief Extension Act of 2021” to extend the expiration dates of certain bankruptcy provisions of the CARES Act to March 27, 2022. The original version of the...more

Bradley Arant Boult Cummings LLP

A Business Bankruptcy Overview: How Subchapter V, the CARES Act and the Consolidated Appropriations Act Have Expanded Relief for...

In February 2020, just prior to the COVID-19 outbreak, the Small Business Reorganization Act of 2019 (Subchapter V) took effect. Subchapter V amends Chapter 11 of the Bankruptcy Code to allow certain individuals and...more

Bradley Arant Boult Cummings LLP

Bradley’s Bankruptcy Basics: 5 Significant (if Temporary) Amendments to the Bankruptcy Code Resulting from the COVID-19 Pandemic

As we cross the one-year anniversary of the COVID-19 pandemic, we reflect on the multiple amendments to the Bankruptcy Code that have been implemented to help curb the effects of various economic shutdowns and financial...more

Levenfeld Pearlstein, LLC

Legislation Introduced To Extend CARES And CAA Bankruptcy Provisions

On February 25, 2021, Senators Durbin and Grassley introduced bipartisan legislation to extend the expiration dates of certain bankruptcy provisions of the CARES Act and the Consolidated Appropriations Act to March 27, 2022. ...more

Cozen O'Connor

Congress Enacts Modification to Bankruptcy Procedures Governing Assumption and Rejection of Leases

Cozen O'Connor on

The Consolidated Appropriations Act of 2021 (the Appropriations Act) is a $2.3 trillion spending bill that combines stimulus relief for the COVID-19 pandemic and an omnibus spending bill for the federal fiscal year. ...more

Bowditch & Dewey

Rent Abatement, PPP Loans (Maybe), and Other Bankruptcy Relief in the Appropriations Act

Bowditch & Dewey on

On December 27, 2020, the Consolidated Appropriations Act, 2021 became law. In addition to funding the government and providing coronavirus relief, the Act contains several intriguing amendments to the Bankruptcy Code. The...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Code Amendments Aimed at Allowing Extended Rent Holidays for Small Business Debtors Pose More Questions Than They...

While the recent Bankruptcy Code amendments allow small business debtors to extend their deferral of lease obligations beyond the first 60 days of the bankruptcy case, the amendments raise and leave unanswered important...more

Farella Braun + Martel LLP

Bankruptcy Provisions in COVID Relief Legislation Impacting PPP Loans, Commercial Leases and Preference Claims

With the COVID-19 pandemic stretching on into another year, businesses continue to experience adverse effects. Bankruptcy filings, especially among retailers, were higher than average in 2020, and it is likely that more...more

Perkins Coie

New COVID-19 Relief Law Includes Limited Bankruptcy Protections Regarding PPP Loans

Perkins Coie on

The latest COVID-19 relief legislation provided some additional aid and clarity for a select group of debtors and left many other questions unanswered. The requirements for the next round of the Payroll Protection Program...more

Pullman & Comley, LLC

New Bankruptcy Relief Provisions Brought to You by the 2021 Federal Appropriations Act

Pullman & Comley, LLC on

The new Consolidated Appropriations Act, 2021 (the “Act”), which was signed into law on December 27, 2020 (H.R. 133), includes within its 5,593 pages a number of new bankruptcy relief provisions for businesses as part of what...more

Lowenstein Sandler LLP

The Consolidated Appropriations Act Of 2021 Amendments To The Bankruptcy Code As It Pertains To Business Debtors

Lowenstein Sandler LLP on

On December 21, 2020, Congress passed the Consolidated Appropriations Act of 2021 (the Act), which was just signed by President Donald Trump. The Act makes certain amendments to the United States Bankruptcy Code (the...more

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