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Rising Bankruptcy Filings Make Today’s Headlines, But Keep An Eye on Historic Policies
Many of my fellow bankruptcy professionals know that we’ve been busy, but for the record, the Administrative Office of the U.S. Courts reports a 33.5% increase in business bankruptcy filings for the year ending September 30. That’s down from the year-to-year figure of 40% in July, suggesting the recent surge of filings may have peaked or maybe an anomaly due to small business debtors perceptively filing in advance of the reduction in the debt limits eligibility.
We also know filing numbers don’t always tell the full story. Some bankruptcies, like that of Steward Health Care, involves over one hundred of individual filings that are really from the same company and where multiple entities are consolidated into one docket.
However, there is a larger issue at play — one that bankruptcy policy experts and, eventually Congress, should consider. While bankruptcy is one of only two areas of law mentioned in the Constitution, it took Congress until 1898 to pass the first comprehensive bankruptcy laws, which they overhauled in 1938, and superseded by the current Bankruptcy Code in 1978. Over that time the system stood for people and businesses with overly burdensome debt getting a financial fresh start while creditors receive an equitable distribution of assets.
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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.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
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.