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Debtors Proposed Legislation

Rosenberg Martin Greenberg LLP

Is the End Near for Third Party Releases In Chapter 11 Plans?

When the Bankruptcy Reform Act of 1978, the foundation on which the current Bankruptcy Code is constructed, was enacted, bankruptcy cases customarily involved a debtor addressing claims only against it. Consistent with that...more

Kerr Russell

Increased Bankruptcy Debt Ceiling Set To Expire

Kerr Russell on

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

Amundsen Davis LLC

Congress Pushes Bankruptcy Aid For Those Suffering Financially From COVID-19

Amundsen Davis LLC on

Democratic senators have revived a bill aimed at providing an easier path into bankruptcy for Americans suffering financial hardship stemming from COVID-19. The Medical Bankruptcy Fairness Act (the “Proposed Act”) has been...more

Dechert LLP

The Protecting Employees and Retirees in Business Bankruptcies Act of 2020: A Sign of the Times

Dechert LLP on

On September 29, 2020, the United States House of Representatives Committee on the Judiciary advanced a Democrat-backed bill to the full chamber that seeks to address perceived shortcomings in the Bankruptcy Code’s...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Proposes Preferential Status for Certain Taxes in Insolvencies

The U.K. government is proposing to reintroduce preferential status to certain taxes in U.K. insolvencies beginning 6 April 2020. If enacted: - certain taxes owed to HM Revenue & Customs (HMRC) would rank ahead of floating...more

Morgan Lewis

Kazakhstan’s Bankruptcy Law Overhaul

Morgan Lewis on

Key changes proposed in the new Rehabilitation and Bankruptcy Law affect involuntary petitions for bankruptcy, invalidations, trustees' avoidance powers, debtors' dissolution, and priority of claims....more

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