Creditors' Rights, Bankruptcy and Insolvency
The Small Business Reorganization Act and Subchapter V Bankruptcy
The Small Business Reorganization Act of 2019 (the “SBRA”) became effective on February 19, 2020, and is aimed at giving small business debtors a simpler and less costly avenue to successful reorganiz...
Continue ReadingRecent Developments Affecting Lenders
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...
Continue ReadingInteragency Statement on Loan Modifications for Customers Impacted by COVID-19
An interagency statement was issued regarding loan modifications and reporting by financial institutions working with customers affected by COVID-19.
Continue ReadingCOVID-19 and the "Material Adverse Change" Clause
Due to the COVID-19 pandemic, our firm has received a number of inquiries about “force majeure” and “material adverse change” contract clauses.
Continue ReadingAnalyzing Authority Under a Power of Attorney
Financial institutions are routinely presented with powers of attorney and asked to transact business with the agent presenting the document.
Continue ReadingNew Bankruptcy Laws Aim to Help Small Businesses, Family Farmers, and Veterans
President Trump signed four pieces of bankruptcy legislation into law on August 23, 2019.
Continue ReadingChapter 13 Strip Down of Underwater Short-Term Mortgages Now Permitted
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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