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COVID-19 continues to impact businesses, both large and small. As a result, many companies must face the unfortunate reality of shutting down operations or filing for bankruptcy protection. When considering any change in operational status, businesses are well-advised to consider present and future liabilities, including potential exposure under applicable labor and employment laws. This article addresses some of the relevant employment laws and litigation vulnerabilities that companies, including their owners, officers and directors, should consider before ceasing operations or filing for bankruptcy.
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By Jonathan P. Friedland, Mark Melickian & Hajar Jouglaf
A large number of reported decisions interpreting Sub V have mostly addressed the eligibility threshold for a debtor to proceed under the new law. And legitimate questions will continue to present themselves. Such is the nature of most new (and even not-so-new) statutes.
By Alison D. Bauer
At present, there remains no avenue for Chapter 11 debtors to receive PPP Loans during the course of the bankruptcy case. The limitation on PPP availability notwithstanding, other legislative changes have greatly enhanced the eligibility for and efficacy of bankruptcy relief for many small businesses.
By Melissa Davis and Grace E. Robson
This article focuses on the basics of fraudulent transfer claims and solvency analysis in the context of lawsuits where a plaintiff is seeking to recover payments made prior to the bankruptcy case being commenced, sometimes referred to as “claw back” litigation.
By Daniel Coyle
Chapter 15 specifically allows foreign representatives to conduct discovery in the U.S., but be wary of other entities that seek to distract and/or delay the Foreign Representative from the asset search.