Page 4 - Bankruptcy Code Section News Today

Advertisement Bradley’s Bankruptcy Basics: COVID-19 Bankruptcy Relief Extension Act Extends Various CARES Act Amendments to the Bankruptcy Code Thursday, April 29, 2021 Last March, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made several changes to the Bankruptcy Code, including those changes discussed in more detail here. As it became clear that we would be dealing with COVID-19 for much longer than previously anticipate...

To print this article, all you need is to be registered or login on Mondaq.com. Those who lease commercial property may find themselves unwilling participants in complex proceedings before the U.S. bankruptcy courts when a tenant files bankruptcy. Meanwhile, the lease becomes an asset among the "property of the estate" of the debtor, and the automatic stay imposed by U.S. Bankruptcy Code 1 serves to halt all collection and eviction activity in their tracks. In light of t...

To embed, copy and paste the code into your website or blog: Last March, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made several changes to the Bankruptcy Code, including those changes discussed in more detail here. As it became clear that we would be dealing with COVID-19 for much longer than previously anticipated, Congress passed the Consolidated Appropriations Act (CAA), which made additional changes to the Bankruptcy Code, inclu...

To print this article, all you need is to be registered or login on Mondaq.com. The U.S. Bankruptcy Court for the S.D.N.Y. provided further clarity in the Fairfield Sentry litigation on whether foreign constructive trust claims are avoidance claims in assessing the applicability of Sections 546(e) and 561(d), the U.S. bankruptcy safe harbor laws which generally immunizes securities transactions from bankruptcy avoidance actions. Judge Stuart M. Bernstein - in one of his ...

To print this article, all you need is to be registered or login on Mondaq.com. The U.S. Bankruptcy Court for the S.D.N.Y. provided clarity in the Fairfield Sentry litigation on the implication of Sections 546(e) and 561(d), U.S. bankruptcy safe harbor laws, on foreign claw-back claims. Judge Stuart M. Bernstein - who retired on September 30, 2020 but is currently serving on recall through early next year - authored the opinion. In effect, Judge Bernstein decided that Ba...

To embed, copy and paste the code into your website or blog: What to consider to avoid a spiral, if your company is the next to go viral. The recent meteoric rise (and subsequent fall) of GameStop, AMC Theaters and a host of other “meme stocks” has prompted hedge funds, investment bankers, regulators and public company executives to critically re-examine their preparedness for extraordinary market volatility.  The meme stock phenomenon is unique in numerous respects that have been well doc...

By Polsinelli PC issued the following announcement on Jan. 21. Am Law 100 firm Polsinelli has been honored with two awards by Global M&A Network: “Cross-Border M&A Deal of the Year” and “Chapter 11 Restructuring of the Year.” Both awards are in the mid-markets category. The firm was recognized at the 12th Annual Intelligence Forum virtual event on Jan. 21, 2021. Polsinelli’s recognition as the “Cross-Border M&A Deal of the Year” (mid-markets category) was awarded for its re...

The latest COVID-19 relief legislation provided some additional aid and clarity for a select group of debtors and left many other questions unanswered. The requirements for the next...

Bankrupt small businesses now qualify for PPP loans under the CARES Act. Small business debtors may now have an additional 60 days under the Bankruptcy Code to perform all post-petition commercial lease obligations and to assume or reject such leases. A security deposit or other assurance of payment is no longer necessary for small business debtors to prevent the termination of utility services. Deferred or postponed rent and supplier payments by small business debtors are now protected from pr...