New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook - The Consumer Finance Podcast
On March 2, 2021, stationery and gift retailer Paper Source filed for chapter 11 bankruptcy, stating in court filings that effects of the COVID-19 pandemic damaged its finances and operations. Paper Source stated that in...more
In a Chapter 13 bankruptcy, debtors propose a plan to re-pay all or a portion of their debts. The amount to be repaid depends on how much the debtors earn, the amount and types of debt owed, and how much property they own....more
The Small Business Reorganization Act of 2019 (SBRA) was signed into law in August 2019 and will go into effect on February 19, 2020. The goal of the SBRA is to make small business bankruptcies faster and less expensive....more
A three-judge panel for the Fifth Circuit Court of Appeals recently held, in the Chapter 11 case In re Ultra Petroleum Corp., No. 17-20793 (5th Cir. Jan. 17, 2019), that (i) a creditor is not “impaired” by a reorganization...more
In a brief but significant opinion, the United States District Court for the District of Delaware reversed a decision by the United States Bankruptcy Court for the District of Delaware and allowed more than $30 million in...more
The Bottom Line - In Hargreaves v. Nuverra Environmental Solutions Inc. (In re Nuverra Environmental Solutions Inc.), 17-1024 (D. Del. Aug. 21, 2018), a Delaware district court upheld a bankruptcy court’s ruling that the...more
The Ninth Circuit recently held, in In re Fagerdala USA – Lompoc, Inc., No. 16-35430, 2018 WL 2472874 (9th Cir. June 4, 2018), that a creditor may purchase just enough unsecured claims to obtain a blocking position to plan...more
Ultra court clarifies the requirements for classifying a creditor as “unimpaired” under a plan of reorganization. Key Points: - Texas bankruptcy court splits from Third Circuit in finding that a creditor must receive...more