On July 18, the maxim “not your keys, not your coin” took on a whole new meaning for customers of the bankrupt cryptocurrency exchange Celsius Network LLC, which had filed Chapter 11 in the Bankruptcy Court for the Southern...more
The SBA’s Rules Exclude Bankruptcy Debtors From Relief Under the Paycheck Protection Program -
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which was signed into law on March 27, funnels aid to small...more
In a very short period of time, private equity groups and their portfolio companies have had to deal with an unprecedented amount of change in response to the novel coronavirus (COVID-19) crisis....more
As the world reacts to the COVID-19 global health crisis, businesses in all industries will eventually feel the impact of the pandemic’s economic and financial disruption. What steps can borrowers, lenders, customers and...more
On February 19, the Small Business Restructuring Act (SBRA) — the most significant change to the Bankruptcy Code in 15 years — went into effect. The SBRA, also known as Subchapter V of Chapter 11, removed numerous barriers...more
An increasing number of businesses — even those that have traditionally been financially and operationally sound — are now experiencing unanticipated revenue losses as a result of the coronavirus pandemic. Companies may find...more
3/20/2020
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Free and Clear Transactions ,
Furloughs ,
Liquidity ,
Personal Liability ,
Reorganizations ,
Sale of Assets ,
Vendors ,
WARN Act
A key tenet of reorganization under Chapter 11 is that if the debtor’s plan impairs creditors, at least some of those creditors must agree to the plan. More specifically, “if a class of claims is impaired under the plan, at...more