News & Analysis as of

Debt Restructuring CARES Act

Fox Rothschild LLP

The More Things Change, The More They Stay The Same? Survival Of Small Businesses Again Dependent On Action From Congress

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Right now, a business with less than $7.5 million in debt can file an easier, cheaper, and more efficient bankruptcy than a traditional Chapter 11. That privilege will soon be limited to businesses with less than around $3...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

Epiq

The Future of Subchapter V: Navigating the Pandemic and Beyond

Epiq on

Bankruptcy courts have had an increase in activity since the COVID-19 pandemic struck, especially for small businesses facing financial challenges. The Small Business Reorganization Act (SBRA), which was passed in August 2019...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: Chapter 11 Bankruptcy

Chapter 11 bankruptcy cases are most frequently filed by businesses. However, certain high-earning individuals whose debts are above the statutory debt limits to qualify for Chapter 13 can also file for Chapter 11 relief. In...more

Dorsey & Whitney LLP

2020 Recap: Corporate Restructuring Review

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Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020. We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization...more

Nutter McClennen & Fish LLP

Special Edition Nutter Bank Report: COVID-19 Relief in the Consolidated Appropriations Act, 2021

A long-awaited bipartisan stimulus bill was signed into law by President Trump on December 27, 2020. Included in the law, known as the Consolidated Appropriations Act, 2021 (the “Act”), are economic stimulus measures and a...more

Bradley Arant Boult Cummings LLP

Individuals Can Restructure Personal Guaranties of Defunct Business’s Debt in New Bankruptcy Subchapter V

Earlier this year, Chapter 11’s new Subchapter V became a part of the Bankruptcy Code when the Small Business Reorganization Act of 2019 (SBRA) became effective. Very shortly thereafter, the CARES Act expanded the debt limits...more

Brooks Pierce

COVID’s Lasting Impacts on Construction and Real Estate Trends

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The COVID-19 pandemic is impacting every facet of the economy, including commercial construction and real estate. While the depth of some of the impacts may not be known for months, if not years, there are several emerging...more

Holland & Knight LLP

COVID-19 Tax Issues for the Real Estate Industry

Holland & Knight LLP on

The economic slowdown caused by the coronavirus (COVID-19) outbreak has significant effects on the real estate sector. The federal government has implemented stimulus measures most notably, the Coronavirus Aid, Relief, and...more

Ward and Smith, P.A.

COVID-19 Closed My Business. Can I Still Reorganize in Bankruptcy?

Ward and Smith, P.A. on

We previously informed you that if you are a small business that needed to file bankruptcy to save your company, then you may be able to take advantage of Subchapter V of Chapter 11 of the Bankruptcy Code....more

Buckingham, Doolittle & Burroughs, LLC

Key insights to help you navigate COVID-19 related bankruptcy and other debt restructuring options

There is no question that the COVID-19 pandemic is causing many businesses to suffer interruptions and financial distress. Some business owners are contemplating bankruptcy and other debt restructuring options...more

Burr & Forman

Financial Regulators Update Previous Statement on Loan Modifications and Reporting Pursuant to CARES Act

Burr & Forman on

On April 7, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer...more

Hinshaw & Culbertson LLP

$2.2 Trillion CARES Act Provides Opportunity for Community Banks

The $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted late last week. Designed to provide emergency economic assistance to businesses, families, and individuals, the CARES Act also...more

Maynard Nexsen

Need a Loan Modification? ASK! - Guidance on the CARES Act and Banking

Maynard Nexsen on

The Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” along with recent guidance from bank regulators have increased the flexibility banks can offer to borrowers and created new opportunities for lending....more

Skadden, Arps, Slate, Meagher & Flom LLP

CARES Act Tax Considerations

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020, representing the so-called “Phase 3” of the response to the COVID-19 pandemic, as discussed in our client alert “CARES...more

Parker Poe Adams & Bernstein LLP

Federal Government Offers Relief Related to Troubled Debt Restructuring Due to COVID-19 Concerns

Lenders looking to offer payment deferrals and other short-term modifications to certain borrowers in response to the COVID-19 pandemic will not have to report those modifications as troubled debt restructurings (TDRs), at...more

White and Williams LLP

Loan Modifications Due to COVID-19 Pandemic: FDIC Answers CARES Act FAQs

White and Williams LLP on

In support of financial institutions and borrowers during the COVID-19 pandemic, the newly enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a number of provisions permitting lenders to suspend,...more

Alston & Bird

Economy in Chaos: Is Bankruptcy Inevitable for My Business?

Alston & Bird on

Inevitable? Of course not, but fortune favors the prepared. Our Financial Restructuring & Reorganization Group offers a few things for you to consider to weather the coronavirus-fueled economic storm....more

Sheppard Mullin Richter & Hampton LLP

Troubled Debt Restructuring: Phase 3 Stimulus Bill

On March 25, 2020, the Senate passed an amendment to H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (as amended, the “CARES Act”), which (as of March 26, 2020) is being considered in the House...more

Nelson Mullins Riley & Scarborough LLP

CARES Act Relevant Provision Summaries for Banking Industry Clients

The COVID-19 related stimulus bill (Coronavirus Aid, Relief, and Economic Security Act or CARES Act) provides relief to the banking industry directly. The CARES Act authorizes guarantees of bank-issued debt and...more

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