On June 28, 2021, a bipartisan bill was presented in the U.S. House of Representatives to amend 28 U.S.C. § 1408, the bankruptcy venue statute. The Bankruptcy Venue Reform Act of 2021, H.R.
Committees
11 U.S.C. § 1183(b)(7) tells us that “[t]he trustee shall ...
Since the passage of the modern version of the Bankruptcy Code in 1978, chapter 11 has been used as a tool by debtors to address mass litigation liabilities.
On March 29, 2021, in In re BK Technologies Inc.,[1] newly appointed Chief Bankruptcy Judge McKay Mignault dismissed the first Small Business Reorganization Act (SBRA) case filed in West Virginia due to a lack of a realistic ability to reorganize and the debtor’s bad faith.
Insolvency professionals have limited options to consider when counseling small business clients in financial distress who wish to continue operating their business. On the federal level, practitioners may choose to file a traditional chapter 11 reorganization or a small business bankruptcy under subchapter V.
It is now widely known that the novel coronavirus (COVID-19) pandemic changed society for a variety of industries, whom either have deteriorated significantly or now cease to exist.
A local group of bankruptcy judges and insolvency professionals has published recommendations for ways that the U.S.
The new year brings several changes to bankruptcy practice through the enactment of the Consolidated Appropriations Act, 2021 (CAA), which augments the CARES Act by expanding the Paycheck Protection Program (PPP), adding stimulus programs and installing coronavirus relief valves for troubled sectors of the economy.[1] Those relief valv
Co-Chair Corner: Year in Review
The hotel industry has suffered significantly since the outset of the COVID-19 pandemic. Occupancy rates for hotels in urban areas in August 2020 were down to 38% compared to 89% in August 2019.[1] Many hotels, particularly those in New York, were forced to furlough staff in response to local requirements and economic pressures.
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Adams and Reese LLP
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Cole Schotz P.C.
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Maynard Nexsen PC
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Lowenstein Sandler LLP
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