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Financial Institutions › Creditors › Coronavirus/COVID-19

Cozen O'Connor

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

Cozen O'Connor on

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

Jenner & Block on

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

Hudson Cook, LLP

CFPB Bites of the Month - September Top 10

Hudson Cook, LLP on

So what happened at the CFPB in the past month? Bite #10 - Trade groups submitted a letter to the House Subcommittee supporting HR 4773 - Nearly 30 trade groups, led by the Consumer Bankers Association (CBA), submitted...more

Woods Rogers

Direct Deposits of Child Tax Credits are Exempt from Creditor Process

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Banks are reminded that child tax credit payments made by direct deposit are exempt from creditor process. In particular, the Virginia law (Code §34-28.3) provides an exemption for any “emergency relief payment” made in...more

Ballard Spahr LLP

Protection of Federal Stimulus Payments from Creditors

Ballard Spahr LLP on

In the federal government’s ongoing effort to revive the U.S. economy and help people harmed by the economic damage wrought by the coronavirus pandemic, an important detail has gone under-noticed: the most recent set of...more

Foley & Lardner LLP

Creditors Must Continue to Take Proper Care under the CARES Act

Foley & Lardner LLP on

Recently, the Consumer Financial Protection Bureau (CFPB) issued a compliance aid that addresses frequently asked questions related to the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and the COVID-19...more

A&O Shearman

The Liquidity Crunch

A&O Shearman on

The global economy has been greatly impacted by the COVID-19 pandemic and a significant drop in oil prices. The combination of these two factors coupled with the uncertainty surrounding the length of time COVID-19 will hold a...more

Nelson Mullins Riley & Scarborough LLP

CARES Act Makes Small Business Bankruptcy More Accessible

Nelson Mullins Riley & Scarborough LLP on

Companies with Debt Up to $7,500,000 Now Eligible for Relief - The primary purpose of the new CARES Act is to provide emergency financial and health care assistance to individuals, families, and businesses that are...more

Spilman Thomas & Battle, PLLC

Bankruptcy and Creditors' Rights Issues in Light of COVID-19

Spilman Thomas & Battle, PLLC on

Spilman Thomas & Battle attorneys cover legal, procedural, and practical issues related to creditors' rights on commercial and consumer loans. We also cover how SBA lending options might help alleviate some of the short-term...more

Baker Donelson

CARES Act Expands the Small Business Reorganization Act – Lenders Beware

Baker Donelson on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) expands a new law that streamlines the Chapter 11 bankruptcy process for small businesses to include a larger group of small businesses. The Small Business...more

Ervin Cohen & Jessup LLP

Coronavirus Advice for Creditors

Ervin Cohen & Jessup LLP on

During this unprecedented time of uncertainty, landlords, financial institutions, vendors, suppliers, and other creditors will undoubtedly be affected. Due to the closure of most businesses which are considered non-essential,...more

Womble Bond Dickinson

Prepare for Bankruptcies Sparked by Oil Price Battle

Womble Bond Dickinson on

Key points: - Companies facing bankruptcy can still make smart moves - Creditors should consider asserting liens before it’s too late - Legal fees may be covered for some unsecured creditors ...more

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