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As small-business owners have continued to struggle in an uncertain economy, a growing number have begun the dangerous practice of relying on merchant cash advances — essentially seeking financial shelter in a lion’s den. Fact is, MCAs often contain onerous (and potentially illegal or unenforceable) provisions that end up causing more trouble than they are worth. Following is some general guidance based on our experience helping business owners navigate complex issues through all types of business and economic environments.
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Seventh Circuit Applies Safe Harbor to Private Securities Transaction
By Michael L. Cook
“… [T]he term ‘securities contract’ as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities,” The Seventh Circuit held in Petr v. BMO Harris Bank, N.A.
By Lawrence J. Kotler and Elisa Hyder
In Lafferty v. Off-Spec Solutions, the U.S. Bankruptcy Appellate Panel of the Ninth Circuit held that the discharge exceptions under Section 523(a) do not apply to corporate debtors under Subchapter V of Chapter 11 of the Bankruptcy Code.
Biotech Industry Bankruptcy Case Update: ‘Zymergen’ and ‘Humanigen’
By Edward E. Neiger, Marianna Udem and Joo Hee Park
This Bankruptcy Case Update focuses on the recent biotech industry bankruptcy cases of Zymergen and Humanigen.
So Far In 2024, Law Firms Are Using Bankruptcy As a Springboard for Profit
By Andrew Maloney
With broad hopes for countercyclical consistency and a nearly 120% uptick in Chapter 11 filings in February specifically, law firms seem ready to use restructuring work as a significant plank in a profitable 2024.
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