The crypto winter is starting to look more like a crypto ice age. In addition to hundreds of billions of dollars in lost market value, the crypto industry has seen major industry players seek protection in bankruptcy court,...more
On November 10, 2022, the US Court of Appeals for the Second Circuit directed the US Bankruptcy Court for the District of Connecticut to order a refund of fees paid by a chapter 11 debtor to the Office of the US Trustee...more
On June 21, 2022, President Biden signed the Bankruptcy Threshold Adjustment and Technical Corrections Act into law.
As we reported here, the Bankruptcy Corrections Act revived the $7.5 million eligibility threshold for...more
In an issue of first impression for the jurisdiction, the Bankruptcy Court for the Northern District of Illinois has ruled that a subchapter V debtor “substantially consummated” its plan by paying less than $1,500 in...more
On June 7, 2022, the Fourth Circuit Court of Appeals unanimously held that the exceptions to discharge found in section 523(a) of the Bankruptcy Code, which ordinarily exclusively apply to individual debtors, also apply to...more
The President signed legislation raising the eligible debt ceiling for Subchapter V of Chapter 11 to $7,500,000. Small businesses with up to $7,500,000 in noncontingent, liquidated debts are eligible for relief under...more
The House has passed a bill that will now go to the President to sign into law that raises the eligible debt ceiling for Subchapter V of Chapter 11 to $7,500,000. Small businesses with up to $7,500,000 in noncontingent,...more
After years of large retailers and malls struggling prior to the COVID-19 pandemic and the most vulnerable retailers filing for bankruptcy relief in its immediate wake in early 2020, the US economy rebounded strongly with the...more
The Senate has passed a bill by unanimous consent to extend the heightened debt ceiling for Subchapter V of Chapter 11. If passed by the House and signed into law, small business borrowers with up to $7,500,000 in...more
In early December, the United States District Court for the Southern District of New York denied, in part, a motion to dismiss claims of breach of fiduciary duty and recovery of fraudulent conveyances brought against former...more