News & Analysis as of

Creditors Amended Legislation

Lewis Roca

Arizona Voters Modify Creditors' Remedies with Passage of Proposition 209 - Update

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UPDATED 5/30/2024: Prop. 209 became law on December 5, 2022, but was immediately challenged by the Arizona Creditors Bar Association and several other organizations as unconstitutionally vague and internally inconsistent....more

Conyers

Cayman Islands Restructuring: Recent Common Law Insights for Directors when Entering the Zone of Insolvency

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Conyers partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative...more

Conyers

A Summary of the New Restructuring Officer Regime

Conyers on

Later this year, amendments to Part V of the Cayman Islands Companies Act (the "Companies Act") will be introduced to commence a new restructuring officer regime available to companies in financial difficulty. Under the new...more

Conyers

Cayman Islands Restructuring: What amounts to a “Rational Basis”?

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In the recent decision of Evergreen International Holdings Limited, delivered on 11 January 2022, the Grand Court of the Cayman Islands made an order for the immediate winding up of a company notwithstanding the company’s...more

Quarles & Brady LLP

Summary: HB 2617’s Amendments to Existing Arizona Homestead Exemption & Judgment Lien Laws

Quarles & Brady LLP on

HB 2617 is significantly altering the Arizona homestead exemption laws on December 31, 2021. Under current law, up to $150,000 in equity proceeds in a debtor’s home is exempt from collection by creditors. Additionally,...more

Jaburg Wilk

2021 Amendments to Arizona’s Homestead Statute Confused Yet?

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There has been a good amount of commentary regarding Arizona House Bill 2617, which amends the Arizona Homestead Statute, and related statutes, effective January 1, 2022. Despite what appears to be the consensus, the Bill is...more

Miller Canfield

Recent and Upcoming Changes to Bankruptcy Law That Affect Your Rights as a Creditor

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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

Patterson Belknap Webb & Tyler LLP

Small Business Reorganization Act of 2019

In the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“2005 Act”), Congress amended the Bankruptcy Code and Title 28 of the U.S. Code to provide special rules and procedures for “small business debtors.” The...more

Tucker Arensberg, P.C.

Three New Bankruptcy Amendments Become Law

On August 23, 2019, the President of the United States of America signed three new bankruptcy amendments into law.  The first bill, H.R. 3311, ratifies The Small Business Reorganization Act of 2019, creating a new option for...more

K&L Gates LLP

Legal Tropics: Changes to Judgment Enforcement in Florida

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So you’ve won a judgment against a Florida company or individual. Now what? Creditors that want to enforce and collect upon a judgment in Florida should be aware of recent changes to Florida statutes regarding the enforcement...more

Pillsbury - Gravel2Gavel Construction & Real...

Update Your California Release Provisions to Include Amended Section 1542 Language

Most companies have been involved in a situation where they want to end their relationship with another company, or with an employee, and to permanently terminate their mutual obligations (e.g., a settlement agreement...more

Cooley LLP

Alert: California Legislature Amends Required CCP 1542 Language

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California Code of Civil Procedure Section 1542 precludes the waiver of unknown claims unless the protections of the section are expressly relinquished. In order to effectively waive the protections of California Code of...more

Sheppard Mullin Richter & Hampton LLP

Head’s Up: Changes Made to Civil Code Section 1542

Civil Code section 1542 waivers are commonly included in a myriad of transactional documents and typically coupled with “as is” provisions. In essence, absent an express waiver of Section 1542 in a contract, the releasing...more

Sheppard Mullin Richter & Hampton LLP

California Legislature Amends Section 1542: Are Employer Settlement Agreements Now More Vulnerable to Attack?

On January 1, 2019, California’s Senate Bill No. 1431 went into effect, making a slight, but potentially significant amendment to Civil Code Section 1542. The prior version of the statute read: “A general release does not...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

What Employers Need to Know About the New State Garnishment Laws, Part I: Michigan and Georgia

The requirements and processes applicable to employers handling garnishments are primarily governed by state laws. Therefore, in addition to the federal Consumer Credit Protection Act (CCPA), multistate employers need to be...more

Snell & Wilmer

Nevada Legislation Restores Rights to Note Purchasers

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The Nevada Legislature ended its 2015 session on June 1. The Nevada Legislature meets in odd numbered years for 120 days, so it will not meet again until 2017, unless the Governor calls a special session. The Legislature...more

Sherman & Howard L.L.C.

An Identifiable Risk to Collateral Property That Is Used In The Marijuana Business

The legalization under state law of the marijuana business in Colorado through Amendment 20 (medical marijuana) and Amendment 64 (recreational marijuana) (Amendment 20 and Amendment 64 shall be referred to collectively as the...more

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