The Consolidated Appropriations Act of 2021 (the CAA), which President Trump signed into law on December 27, 2020, amends several provisions
Ward and Smith, P.A.
This "automatic stay" is a command to halt action, and creditors violate it at their own peril. If a creditor wants to continue a lawsuit against a debtor outside of bankruptcy
On Tuesday, January 12, 2021, the U.S. Attorney's Office for the Eastern District of California announced the first, and long-anticipated, civil settlement...
Sheppard Mullin Richter & Hampton
On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR) with respect to the...
Patterson Belknap Webb & Tyler LLP
In 2019, we began following a Circuit split regarding a secured creditor's obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor's bankruptcy...
Paul Weiss Rifkind Wharton & Garrison
On January 12, 2021, the U.S. Attorney's Office for the Eastern District of California announced the first civil settlement with a borrower for allegedly committing fraud in obtaining a Paycheck
The New York Times reports that the National Rifle Association ("NRA") filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court in Dallas
Morrison & Foerster LLP
On Sunday, December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, which provides $900 billion in a second wave of economic stimulus...
For the past few years, the federal circuit courts have struggled with the issue of whether a creditor retaining possession of bankruptcy estate property violates
Arnold & Porter
On January 14, 2021, the Supreme Court ruled that "mere retention" of estate property after the filing of a bankruptcy petition does not violate the automatic stay as set forth in section 362(a)(3)...
Armstrong Teasdale LLP
On Jan. 14, 2021, the United States Supreme Court issued an opinion (City of Chicago, Illinois v. Fulton et al.) that mere possession of estate property after a bankruptcy petition filing "does not...
Patterson Belknap Webb & Tyler LLP
We have blogged previously about section 546(e), the Bankruptcy Code's safe harbor for certain transfers otherwise subject to avoidance as preferences or fraudulent transfers.
Reinhart Boerner Van Deuren s.c.
On January 14, 2021, the U.S. Supreme Court unanimously held that the City of Chicago did not violate section 362(a)(3) of the Bankruptcy Code...
The United States Supreme Court unanimously reversed the Seventh Circuit and resolved a split among the circuits in a ruling issued on January 14, 2021...
In an 8-0 opinion issued today, the Supreme Court held that a creditor's passive retention of property properly seized from a debtor pre-bankruptcy does not violate the automatic stay...
Frequently, borrowers file for bankruptcy at the 11th hour to halt foreclosure sales. Once a petition for bankruptcy relief has been filed, ...
In a recent decision in In re Nuverra Environmental Solutions, Inc., No. 18-3084, 2021 WL 50160 (3d Cir. Jan 6, 2021)
Frankfurt Kurnit Klein & Selz
The Act also creates a new "Shuttered Venue Operator Grant" program.
Montgomery McCracken Walker & Rhoads LLP
As most know, the second COVID-19 relief package included another round of stimulus checks, an extension of the eviction moratorium, and expanded unemployment benefits.
Winston & Strawn LLP
Like many restaurant chains, Ruby Tuesday was devastated by the dining out restrictions imposed in light of the COVID-19 pandemic.