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Important Amendments to the Bankruptcy Code In the Consolidated Appropriations Act
[Editor's Note: Richard F. Broude is working on an update for his book Reorganizations Under Chapter 11 of the Bankruptcy Code to cover The Consolidated Appropriations Act that was enacted in December and we wanted to share a preview of that update.]
A few important amendments to the Bankruptcy Code were made by the Consolidated Appropriations Act, 2021, Pub. L. No. 116-260, §1001, which was enacted on Dec. 27, 2020 (the Act). Section 365 of the Code was among those amended. These amendments are quite important; and subscribers to Reorganizations Under Chapter 11 of the Bankruptcy Code should be made cognizant of them prior to the next scheduled release in the late Spring of 2021.
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Bit Parts
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Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“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.