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Effective January 1, 2026, the new Illinois Receivership Act will come effective to provide litigators in Illinois with expanded tools for creditors and distressed businesses to protect and manage assets during a business...more
Tariffs to the left of me, uncertainty to the right. To paraphrase the 1970’s rock song, an owner of a distressed business must feel stuck in the middle in a world of shifting governmental policies and an ever-changing...more
A receivership is an equitable remedy in which an independent third party is appointed by a court to manage and preserve a company’s assets. Though bankruptcy and receiverships are similar, there are significant differences...more
Several significant judicial decisions occurred in 2024 that are relevant to commercial lenders and businesses as well as restructuring professionals. This bulletin summarizes the key developments of 2024 and highlights areas...more
In this issue of Insolvency Now, we report on the data trends we are seeing so far in 2024 compared with when we first started tracking data in 2019. Key Takeaways: •Overall, we are seeing a marked increase in filings,...more
January 1, 2024, was a milestone for small businesses and their owners, as well as bankruptcy trustees, receivers, and chief restructuring officers (“CRO” and collectively, “Troubled Company Fiduciaries”) of small businesses...more
Companies doing business in Canada must be aware of and understand the consequences when they, or the companies with which they are dealing, encounter financial difficulties. There are important differences between the...more