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COVID-19: A Massive Impediment to Bankruptcy Relief
The impact of COVID-19 on efforts of businesses to reorganize or even orderly liquidate in bankruptcy has been swift and devastating, particularly in the retail sector. Who could have ever thought that the economy would be so shut down that restructuring efforts under the Bankruptcy Code would be impossible? In the financial apocalypse of 2008, the notion was that certain financial institutions were too big to fail. With the COVID-19 pandemic, "too shut down to shut down" may be the mantra to describe efforts under the Bankruptcy Code.
Whether it is orderly liquidation or reorganization, COVID-19 is serving as a massive impediment to bankruptcy relief. With uncertainty as to when the pandemic will ease, Bankruptcy Courts do not seem to be a panacea leading to successful reorganizations or orderly liquidations for troubled companies.
Art Van Granted Chapter 7 Conversion
Pleadings in bankruptcy cases almost always lead with a chronological history of financial difficulties, including cash flow issues, burdensome debt loads, and oppressive litigation. COVID-19 has downgraded the significance of such chronologies for retailers.
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Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
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“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.