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In Ritchie Capital Management v. McGladrey & Pullen, 2020 IL App (1st) 180806, 155 N.E.3d 597, reh’g denied (Apr. 29, 2020), appeal denied, 159 N.E.3d 935 (Ill. 2020), the Illinois Appellate Court affirmed a state trial court’s order dismissing, as time-barred, a complaint filed more than nine years after the cause of action had accrued. In doing so, the appellate court found that the plaintiffs’ claims had not been “automatically” stayed pursuant to Section 362 of the Bankruptcy Code. As a result, the statute of limitations applicable to those claims had not been tolled.
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By Steven B. Smith and Silvia Stockman
This article explores the competing factors the Bankruptcy Court considered and the rationale underlying its decision to grant the drastic relief of dismissing the NRA’s bankruptcy case.
By By Andrew C. Kassner and Joseph N. Argentina Jr.
How is administrative claim status obtained in a bankruptcy case, and what risks does a service or goods supplier take by continuing to do business with the debtor after commencement of the bankruptcy case?
By Rudolph J. Di Massa Jr. and Drew S. McGehrin
U.S. Bankruptcy Court for the District of Delaware court held that a Chapter 7 trustee was bound by the pre-conversion actions of the debtors, and that the trustee would not be permitted to step into the shoes of the then-dissolved official committee of unsecured creditors to pursue certain causes of action.
By David Samole
Landlords and commercial tenants have proven savvy and mutually symbiotic. These entities learned quick lessons during the pandemic to sustain the landlord-tenant relationship on adjusted footing or otherwise to provide an agreeable runway for a lease exit minimizing the damage to landlords and tenants. Three workout trends reflect this changing landscape that “we are all in this together.”