Creditors' Rights, Bankruptcy and Insolvency

Recent Developments Affecting Lenders

Posted on by Neil E. McCullagh, Kasey L. Hoare in Creditors' Rights, Bankruptcy and Insolvency

This month we (a) highlight an emerging split among the courts regarding the eligibility of companies in bankruptcy to receive loans under the Paycheck Protection Program, (b) review some recent bankr...
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Interagency Statement on Loan Modifications for Customers Impacted by COVID-19

Posted on by Karl A. Moses, Jr. in Creditors' Rights, Bankruptcy and Insolvency, Finance

An interagency statement was issued regarding loan modifications and reporting by financial institutions working with customers affected by COVID-19.
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COVID-19 and the "Material Adverse Change" Clause

Posted on by Neil E. McCullagh in Corporate and Business, Creditors' Rights, Bankruptcy and Insolvency

Due to the COVID-19 pandemic, our firm has received a number of inquiries about “force majeure” and “material adverse change” contract clauses.
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Analyzing Authority Under a Power of Attorney

Posted on by Matthew Yanovitch in Creditors' Rights, Bankruptcy and Insolvency, Estate Planning and Administration

Financial institutions are routinely presented with powers of attorney and asked to transact business with the agent presenting the document.
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New Bankruptcy Laws Aim to Help Small Businesses, Family Farmers, and Veterans

Posted on by Neil E. McCullagh in Creditors' Rights, Bankruptcy and Insolvency

President Trump signed four pieces of bankruptcy legislation into law on August 23, 2019.
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Chapter 13 Strip Down of Underwater Short-Term Mortgages Now Permitted

Posted on by Neil E. McCullagh in Creditors' Rights, Bankruptcy and Insolvency

Law relating to lien strip-offs and strip-downs in bankruptcy continues to evolve. This article examines the ruling in Hurlburt v. Black.
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Banks Will Have Greater Power to Prevent Financial Exploitation of Adults

Posted on by Neil E. McCullagh, Marieke van Rijn in Creditors' Rights, Bankruptcy and Insolvency

Effective July 1, 2019, Virginia law enhances the role banks can play in preventing financial exploitation of adults.
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