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Since the passage of the Bankruptcy Act of 1898, and particularly since 1926, United States bankruptcy laws have contained a provision that would penalize debtors who use false pretenses or false financial documents to obtain credit. The Supreme Court’s decision in Lamar, Archer & Cofrin, LLP v. Appling, 138 S. Ct. 1752, 201 L. Ed. 2d 102 (2018) (Lamar, Archer) has significantly constricted the range and nature of statements that will support a successful objection by a creditor to the discharge of a debt that was obtained by the statements in question. This constriction could have a very real impact on how entities that loan money or provide services on credit review and collect information regarding a borrower’s creditworthiness.
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The Small Business Reorganization Act: How It Started. How it’s Going. Where to Next?
By Jack O’Connor
By further expanding access to a streamlined Chapter 11 process, the SBRA will ensure that a wider array of debtors have the ability of reorganizing themselves, when Chapter 11 was previously too cost-prohibitive for such debtors.
State High Court Preserves Lenders’ Tort Claims Against Debtors’ Insiders
By Michael L. Cook
A lender’s state law tort claims against “non-debtor third-parties for tortious interference with a contract” were “not preempted” by “federal bankruptcy law,” held the New York Court of Appeals.
Implications of Transfer of Attorney-Client Privilege In Bankruptcy Cases
By Andrew C. Kassner and Joseph N. Argentina Jr.
One of the most misunderstood areas of law for non-bankruptcy and bankruptcy attorneys alike is the attorney-client privilege, including the scope of the privilege, who holds it, and when and by whom it can be waived. As is often the case, in bankruptcy, additional complexities arise.
Bankruptcy Court Responses to COVID-19 Relief Orders
By Richard Levy Jr.
The economic impact of COVID-19-related shutdown orders, and the governmental directives, raise questions of how bankruptcy courts will respond.
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