Many businesses in bankruptcy or heading that way – particularly retail establishments – face an uncertain future as states and cities move from closures to phased re-openings.
No one knows with certainty when the economy...more
Under the Bankruptcy Code, filing a bankruptcy petition automatically halts efforts to collect pre-petition debts from the debtor outside of bankruptcy.
This is the "automatic stay," and it is a command, not a suggestion....more
1/21/2020
/ Appeals ,
Automatic Stay ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dismissals ,
Federal Rules of Bankruptcy Procedure ,
Motion for Relief from Automatic Stay ,
Reaffirmation ,
Right To Appeal ,
Ritzen Group Inc v Jackson Masonry LLC ,
SCOTUS ,
Time-Barred Claims
If you lend money, you know – or should know – it is a cardinal sin to collect a debt or repossess collateral after a borrower files bankruptcy.
Bankruptcy triggers the automatic stay – a command, not a suggestion, that...more
12/13/2019
/ Actual Damages ,
Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 13 ,
Creditors ,
Debtors ,
Harley-Davidson ,
Lenders ,
Punitive Damages ,
Section 362 ,
Willful Violations
Bankruptcy court is not the first place that comes to mind when a lender thinks about full recovery on a loan.
Usually, debtors file bankruptcy because they can't pay all their creditors in the ordinary course of business....more
Suppose you own farmland or retail commercial space and you lease your property.
What happens to your lease if the lessee files bankruptcy? And what must be done if your lessee wants to continue to honor your lease...more
8/5/2019
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Leases ,
Commercial Tenants ,
Eviction ,
Landlords ,
Motion for Relief from Automatic Stay ,
Property Surrender ,
Sale of Assets ,
Section 365 ,
Tenants
In a victory for Chapter 13 debtors, the United States Court of Appeals for the Fourth Circuit recently issued a major decision that changes the way bankruptcy courts in North Carolina will deal with certain home mortgages in...more
Bankruptcy is meant to provide a fresh start for the honest but unfortunate debtor.
A debtor who files Chapter 7 does so with the presumption that all his or her debts will be forgiven or "discharged." But what about the...more
5/20/2019
/ Bankruptcy Code ,
Bankruptcy Court ,
Breach of Duty ,
Burden of Proof ,
Chapter 7 ,
Consumer Bankruptcy ,
Debtors ,
Dischargeable Debts ,
Fiduciary Duty ,
Fraud ,
Negligent Misrepresentation
The United States Supreme Court recently decided a case that impacts lenders and other creditors in Chapter 11 bankruptcy proceedings. The Supreme Court held that a bankruptcy court may not approve a “structured dismissal” of...more
4/10/2017
/ Absolute Priority Rule ,
Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Consent ,
Czyzewski v Jevic Holding Corp ,
Reversal ,
SCOTUS ,
Structured Dismissals ,
WARN Act