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Time Is Running Out On Restructuring Under New Subchapter V
The clock is ticking for small businesses (with debt of less than $7.5 million) to take advantage of a new way to restructure under Chapter 11 of the Bankruptcy Code. New Subchapter V — part of the Coronavirus Aid, Relief and Economic Security Act of 2020 (the CARES Act) — is set to expire early next year. [Editor's Note: For more on the CARES Act, see, "Unforeseen Consequences for Bankruptcy Practice In CARES Act," in the October issue of The Bankruptcy Strategist.]
The CARES Act special bankruptcy relief increased the debt limit under the Small Business Reorganization Act of 2019 (SBRA) from about $2.7 million to $7.5 million in light of the unprecedented financial distress being experienced by small businesses all across the county, including especially by small retailers and manufacturers, restaurants and services providers. The increased debt limit, which became effective Feb. 20, 2020, includes a one-year sunset.
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Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.