The latest amendments to the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) took effect on December 1, 2022. This collection of modifications may be broadly divided into two categories: (i) amendments and a...more
On February 19, 2020, the Small Business Reorganization Act of 2019 (SBRA) took effect after being signed into law in mid-2019. Among other things, the SBRA created a new subchapter (Subchapter V) to chapter 11 of title 11 of...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
The Small Business Administration (“SBA”) has made an adjustment to its guidance to provide that entities which have concluded a bankruptcy proceeding are not, for purposes of PPP eligibility, considered in bankruptcy....more
The Small Business Reorganization Act of 2019 ("SBRA"), the Honoring American Veterans in Extreme Need ("HAVEN") Act, and the Family Farmer Relief Act were enacted into law on August 23, 2019. This alert summarizes these...more
Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song...more
The United States Senate passed the “Family Farmer Relief Act of 2019” (H.R. 2336), which substantially increases the debt limit for agricultural producers seeking to file for relief under Chapter 12 of the United States...more
The past few years haven’t been so kind to farmers. It appears that this year will continue the recent trend of subpar net farm income and increasing debt levels due to several years of various detrimental factors, including...more
A chart providing an overview and comparison of the major facets of an individual Chapter 11 reorganization case, a Chapter 12 adjustment of debts of a family farmer or fisherman with regular annual income, and a Chapter 13...more
On December 1, 2017, several important changes to the Federal Rules of Bankruptcy Procedure will be implemented. Those changes will impact creditors who have secured claims, judgment liens, and unsecured claims against...more
Creditors need to know of significant changes about to occur to the Federal Rules of Bankruptcy Procedure ("Bankruptcy Rules"). On December 1, 2017, certain amendments to the Bankruptcy Rules will become effective. This...more
Just about every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of...more
Bankruptcy Rule 3002 is getting an update, which goes into effect on December 1, 2017. Creditors in a Chapter 7 (liquidation), Chapter 12 (family farmer), and Chapter 13 (individual reorganization) bankruptcy need to take...more
Handling distressed agricultural loans can be very tricky. Loan balances for agricultural loans are typically smaller than nonagricultural commercial real property secured loans, requiring that they be handled extremely cost...more
When a chapter 7, 11, 12 or 13 case is filed, two key items spring into life. The first is a new entity called the bankruptcy estate which is comprised of all of the debtor’s non-exempt legal or equitable interests in...more
The 2016 bankruptcy statistics tell an interesting story. While the total number of bankruptcy cases filed in 2016 in the Western District of Wisconsin (“WDW”) fell 5.5% to its lowest level in ten years, Chapter 12 farm...more