News & Analysis as of

Creditors Coronavirus/COVID-19 Bankruptcy Court

Cozen O'Connor

Hundreds of Millions Lost by Seniors Due to Bankruptcies Filed by CCRC Communities

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The Wall Street Journal has reported that recent bankruptcies nationwide in the Continuing Care Retirement Community (CCRC) segment of the long-term care marketplace have resulted in residents losing their buy-in deposit....more

Jenner & Block

Recent Developments in Bankruptcy Law Update - July 2022

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Covered Activities - 1.1.a Order granting counterclaim declaring validity of mortgage on the debtor’s property does not violate the stay. The debtor acquired property subject to a disputed mortgage. The debtor brought a...more

JAMS

Bankruptcy Matters: The New Pandemic Wave is Coming

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You might reasonably assume, given the ongoing economic upheaval due to the COVID-19 pandemic, that the number of personal and corporate bankruptcies would have skyrocketed. But that’s not been the experience for three JAMS...more

Patterson Belknap Webb & Tyler LLP

Unqualified "Cares" Act Funds Can't Be Used To Pay Creditors

U.S. Bankruptcy Judge Craig A. Gargotta rejected a debtor’s attempt to use “CARES Act” funds, which it did not actually qualify for, to pay creditors in its chapter 11 case. BR Healthcare Solutions (the “Debtor”)...more

Sheppard Mullin Richter & Hampton LLP

Nota Bene Podcast Episode 132: 2021 Business Bankruptcy Trends with Ori Katz

The beginning of 2021 saw a decline in business bankruptcy filings, in contrast to the coronavirus-related surge in filings witnessed in 2020. Will this trend continue? Or will bankruptcy filings pick up as more businesses...more

Patterson Belknap Webb & Tyler LLP

Court Dismisses Bankruptcy Case to Enable Debtor to Seek a Paycheck Protection Loan

It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? Will a court dismiss the case so you can seek a loan?...more

Morris James LLP

Delaware Bankruptcy Law: One Year Post COVID-19

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It has been just over a year since the first known COVID-19 cases and related shutdowns occurred in the US. In early 2020, everything from grocery shopping to global politics was deemed “unprecedented” and “unpredictable.”...more

Bowditch & Dewey

Rent Abatement, PPP Loans (Maybe), and Other Bankruptcy Relief in the Appropriations Act

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On December 27, 2020, the Consolidated Appropriations Act, 2021 became law. In addition to funding the government and providing coronavirus relief, the Act contains several intriguing amendments to the Bankruptcy Code. The...more

Shumaker, Loop & Kendrick, LLP

Bankruptcy Preference Alert: Bankruptcy Code Temporarily Tilts in Favor of Supplier and Landlord Preference Defendants

For a limited time only, the “Consolidated Appropriations Act, 2021” (CAA) signed into law on December 27, 2020 amends Bankruptcy Code Section 547 to shield certain deferred supplier and rent payments from avoidance as...more

McGuireWoods LLP

New “Fair Ground of Doubt” Standard for Alleged Discharge Violations: Tread Carefully

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As a result of the economic fallout of COVID-19, more bankruptcies are on the horizon, especially as government aid programs expire and involuntary or voluntary moratoriums on creditor action come to an end. Creditors should...more

Blake, Cassels & Graydon LLP

Blakes Continuity Podcast: What to Expect When Insolvency Crosses the Border

The turbulent COVID-19 economy has put a spotlight on the complex and often delicate insolvency process on both sides of the border. Listen to partners Linc Rogers, Kelly Bourassa and Sébastien Guy on our latest podcast as...more

JAMS

Co-Mediation of Insurance Issues in Bankruptcy Cases

JAMS on

The coronavirus pandemic has driven many companies into bankruptcy, including well-known names such as Brooks Brothers, Neiman Marcus, J.C. Penney, J. Crew and Hertz. In addition to raising bankruptcy-specific issues, the...more

Burr & Forman

You Can Come In, But You Can’t Stay – Judge Grossman Dismisses Debtor’s Case for Re-designating Under the SBRA After Deadlines...

Burr & Forman on

“Timing in Life Is Everything” – John Sculley - Relying on a plain reading of Sections 1188 and 1189 of the Bankruptcy Code, Bankruptcy Judge Scott M. Grossman dismissed the Seven Stars bankruptcy case based on the debtor’s...more

Akerman LLP

Bankruptcy Courts Continue to Accept Equitable Arguments for Deferring Rent Payments During the COVID-19 Pandemic

Akerman LLP on

Previously we reported on debtors’ appeals to bankruptcy courts’ general equitable powers for assistance in weathering the COVID-19-induced economic storm. ...more

Spilman Thomas & Battle, PLLC

Bankruptcy Chatter and COVID-19: Bankruptcy & Creditors' Rights Insights, Issue 1

Welcome to our first edition of Bankruptcy Chatter - our e-newsletter devoted to bankruptcy and creditors' rights. Our goal is to bring you the most up-to-date information, especially given this uncertain time during the...more

Nutter McClennen & Fish LLP

Received a Bankruptcy Notice During the Pandemic? Don’t Delay

Creditors risk losing important rights in bankruptcy cases if deadlines are not met. Unfortunately, sometimes the existence or relevance of a deadline is not obvious to a creditor. Indeed, bankruptcy notices can be...more

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