From Business Viability and Cashflow Analysis to First Payment Rights — Restructuring and Bankruptcy Considerations for the Food, Beverage and Agribusiness Industry
On September 8, 2022, 22 of Florida’s 27 U.S. Representatives, along with both of Florida’s U.S. Senators, filed a petition with the Office of the U.S. Trade Representative seeking relief under Section 301 of the Trade Act of...more
This week, the Ninth Circuit determines whether an online produce wholesaler can file suit under the Perishable Agricultural Commodities Act, and answers a novel question about whether a party that contractually waived its...more
OK, so you’re a sophisticated lending attorney in Metropolis who is comfortable with everything from aircraft financing to syndicated loans secured by casinos in Macau. Yet you feel a twinge of uncertainty when a business...more
Host Kermit Nash, co-chair of Saul Ewing Arnstein & Lehr’s Food, Beverage and Agribusiness (FBA) Practice, speaks with Barry Chatz, a partner in the Firm’s Bankruptcy and Restructuring Practice, on a variety of financial...more
The hospitality industry has been hit hard by the COVID-19 pandemic. The economic impact has put hospitality companies, especially restaurants, under enormous economic strain. The closure or limited operation of food service...more
COVID-19 has brought about new economic uncertainty that is disrupting supply chains, from farmers and ranchers to cooperatives, from processors to grocery stores, and all of the way down to consumers. Even solvent purchasers...more
As some celebrate the most expansive and expensive U.S. stimulus package in history, individuals and families across the country are left wondering (often in quarantined isolation): is it enough? For the agricultural/food...more
In a recent opinion, the Second Circuit Court of Appeals held that a seller licensed under the Perishable Agricultural Commodities Act (“PACA”) could not entirely setoff payables owed to a bankrupt PACA merchant against...more
Originally enacted in 1930, the Perishable Agricultural Commodities Act (“PACA” or the “Act”) has been amended over the years in a number of ways to address the changing landscape of the produce industry. Originally...more
Perishable Agricultural Commodities Act (“PACA”) creates a trust to protect produce suppliers. In a recent S.D. of Florida Bankruptcy Case, the issue before the Court was whether a PACA trust is the type of trust that...more
For those of you who like to get something you can use from blog posts, attached here is a Form PACA Nondischargeability Complaint for a PACA seller against a party that controlled a PACA buyer, where such controlling party...more
Enacted by Congress in 1930 and revised in 1984, the Perishable Agriculture Commodities Act (PACA) protects sellers of perishable agricultural commodities, defined as “fresh fruits and fresh vegetables of every kind and...more
Happy 2018! We at The Bankruptcy Cave have been itching to write about the Cherry Growers Chapter 11 case – which really is ground-breaking – but the holidays, life, and yes, work for clients too, all just got in the way. ...more
Most restructuring practitioners are aware, either vaguely or through punishing experience, of the power of PACA creditors. PACA (or the Perishable Agricultural Commodities Act, 7 U.S.C. § 499a et seq. for those who hate...more
The Perishable Agricultural Commodities Act (PACA) was passed by Congress in 1930 to protect agricultural produce suppliers from unscrupulous vendors who refused to pay the suppliers for their goods. PACA contains language...more