Bankruptcy

The impact of the pandemic rages on and, in its path leaves many businesses and industries demolished or, at best, severely impaired. Once again, the Bankruptcy Code has been called upon to provide relief to those in dire need

Companies suffering financial distress frequently reach a crossroads where they need to either implement some type of transaction or will be forced to liquidate. In developing a plan for moving forward, management should evaluate and determine, with appropriate input from outside experts, feasible alternatives.

As in past times of economic turmoil, it is anticipated that there will be a surge in residential foreclosures, debt collection activity, and the resultant wave of consumer bankruptcy filings.

The number one goal to save money while perfecting notice should be elimination of the production and mailing of paper notices while expediting notice delivery and eliminating postage costs.

A secured lender's "mere retention of property [after a pre-bankruptcy–repossession] does not violate" the automatic stay provision of the Bankruptcy Code, held a unanimous U.S. Supreme Court in City of Chicago v. Fulton.

Which type of retainer agreement gives attorneys the best chance to preemptively shield their retainer fees before a client ends up in bankruptcy or the Department of Justice seizes and forfeits the client's assets?

Due to the COVID-19 pandemic, some businesses are considering potential liquidation or restructuring through bankruptcy. Companies in this situation should keep privacy concerns in mind, because the handling of personal data in bankruptcy proceedings poses some unique challenges.

Perhaps no sector has been more challenged from the COVID-19 pandemic than the restaurant industry. And, as is often the case, these difficult situations and the resulting tough choices must be addressed in the bankruptcy system.