News & Analysis as of

Farms Commercial Bankruptcy

Robins Kaplan LLP

Financial Daily Dose 10.13.2020 | Top Story: Disney Overhauls Organization to Focus on Streaming

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New Disney CEO Bob Chapek made one of his biggest moves yet since taking the reins, announcing a realignment “of its business divisions on Monday that placed the focus squarely on Disney+ and its other streaming services as...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – May 2020 #17

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In Washington - COVID-19 has forced lawmakers to think outside the box in how they work remotely during the crisis.  Over 50 Democrats have signaled they plan to use proxy voting to cast a vote on the floor....more

Ruder Ware

Did You Know That?

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There are many legal rules covering farms – rules that producers might not be aware of. A farm building may not be covered by standard insurance. Farm buildings are exempt from the state building code. And many standard...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

Kramer Levin Naftalis & Frankel LLP

Flow-through Tax Status as a Property Right? The Case of Schroeder Brothers Farms

A recent case from the Western District of Wisconsin, In re Schroeder Brothers Farms of Camp Douglas LLP, may raise a new issue for the bankruptcy treatment of tax attributes in flow-through entities. The court in Schroeder...more

Robins Kaplan LLP

Financial Daily Dose 1.6.2020 | Top Story: Oil Futures Jump as Concerns Deepen Over Mideast Volatility

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Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more

K&L Gates LLP

Don’t Get Lost in the Weeds in Agriculture Bankruptcies

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Agricultural bankruptcies present special and specific issues. The nature of the collateral and the seasonality of the business present a host of questions that need to get answered in order to preserve any value in the...more

Robins Kaplan LLP

Financial Daily Dose 11.13.2019 | Top Story: Buffeted by Changing Consumer Demands, Dean Foods Declares Bankruptcy

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Dean Foods, the largest milk company in the U.S., has filed for bankruptcy protection, a “fresh setback to a U.S. dairy industry struggling against declining U.S. milk consumption and rising competition.”  Industry experts...more

Womble Bond Dickinson

Family Farmer Relief Act Expands Chapter 12 Bankruptcy Protections for Small and Mid-Sized Farms

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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

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

BCLP

Bankruptcy Code Amended: Congress Makes Chapter 12 More Accessible to Family Farmers and Creates New Chapter 11 Subchapter for...

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On August 23, 2019, President Donald J. Trump signed into law two bills amending the Bankruptcy Code: (i) the Family Farmer Relief Act of 2019 (“FFRA”); and (ii) the Small Business Reorganization Act of 2019 (“SBRA,” and with...more

Husch Blackwell LLP

New Legislation Likely To Spur Increase In Bankruptcy Filings

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On August 23, President Trump signed into law two new pieces of legislation—the Family Farmer Relief Act of 2019 and the Small Business Reorganization Act of 2019—that will likely lead to an increase in bankruptcy filings...more

Burr & Forman

Trump Signs Bankruptcy Bills Providing Economic Relief for Small Businesses, National Guard, Veterans, and Family Farmers

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On Friday, August 23, President Trump signed four bankruptcy bills into law: H.R. 3311, the “Small Business Reorganization Act of 2019”, which adds a new Subchapter V to Chapter 11 of the Bankruptcy Code in order to...more

Burr & Forman

Shelter from the Storm - Bankruptcy Relief Comes in Three's

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A trio of bankruptcy bills are sitting on President Trump’s desk awaiting his signature.  The three bankruptcy bills are the “Small Business Reorganization Act of 2019” (H.R. 3311), the “Honoring American Veterans in Extreme...more

Bradley Arant Boult Cummings LLP

The Family Farmer Relief Act of 2019: Will the Increased Debt Limit Lead to an Uptick in Chapter 12 Filings?

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

Mitchell, Williams, Selig, Gates & Woodyard,...

Reorganization of the Family Farm: Recent Tax and Debt Limit Updates to Chapter 12

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

Dorsey & Whitney LLP

House Harvests Increase in Farmer Eligibility for Bankruptcy – Senate Sows Seeds to Match

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On July 26, 2019, the U.S. House of Representatives passed H.R. 2336, the Family Farmer Relief Act of 2019.  The primary purpose of the bill, sponsored by Rep. Anthony Delgado (D-NY), is to increase the debt limit for filing...more

Husch Blackwell LLP

Food & Ag Weekly Round-Up: February 2019 #2

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USAgNet discussed efforts to combat stress in the lives of farm families. Food Safety News discussed the food safety funding in final government spending bill. The Poultry Site reported on the development of a probiotic...more

Ruder Ware

Western District of Wisconsin Ranks 2nd in the Nation in Chapter 12 Farm Bankruptcy Filings in 2018

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The latest federal bankruptcy statistics contain more bad news for Wisconsin’s farmers. Chapter 12 farm bankruptcies continue to rise even though overall bankruptcies continue to fall....more

Troutman Pepper

Bankruptcy Court Holds That “Economic Waste” Doctrine, As Adopted In Wisconsin, Prevented Owner From Recovering Costs To Repair...

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WTE-S&S AG Enters., LLC v. GHD, Inc., 2017 Bankr. LEXIS 2343 (Bankr. N. D. Ill. August 18, 2017) - This breach of contract dispute arises out of a contract to design and build a cow-manure digester on a farm in Wisconsin. ...more

Robins Kaplan LLP

Elkhorn Crossing, LLC: An Equity Cushion is Not Enough

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“Don’t Bet The Farm On It” When is a million dollar equity cushion not enough? Despite a purported cushion of at least $1.2 million, the Bankruptcy Court for the District of Nebraska recently held that a proposed Chapter 12...more

Blank Rome LLP

Leases

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TRUE LEASE V. DISGUISED SECURITY INTEREST - The characterization of a transaction as either a true “lease” or a secured transaction is likely to impact the putative lessor’s rights and remedies both with respect to the...more

Greenberg Glusker LLP

Experts: Drought Could Reverse Downturn in Bankruptcies

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Greenberg Glusker Fields Claman & Machtinger LLP partner Brian Davidoff was quoted in an article that ran in the Los Angeles Daily Journal on July 31st about current predictions that the bankruptcy industry will soon see a...more

Adams and Reese LLP

Banking Bulletin: Saddle Up! Livestock Lenders and Livestock Leasing

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On August 14, 2014, in a dispute regarding entitlement to proceeds resulting from an auction of livestock in possession of a dairy farmer-debtor, the U.S. Court of Appeals for the Sixth Circuit issued an order in favor of a...more

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