Pier 1 Imports storefront facade with store closing sign, windows, doors, and sky COVID-19 pandemic ITC Crossing. – Flanders, NJ / USA – 5/20/20 By Greenberg Traurig LLP, Lexology A look at relevant employment laws and litigation vulnerabilities that companies, including their owners, officers, and directors, should consider before ceasing
By Brian Riley, Payments Journal Bankruptcy is a Constitutional right that allows consumers and businesses with an option to re-organize their credit responsibilities. On the consumer side, there are two options, Chapter 7, which discharges the filer’s debts, and Chapter 13, which allows for a structured payment plan. As with many metrics,
U.S. President Joe Biden speaks from the Treaty Room in the White House about the withdrawal of U.S. troops from Afghanistan. – Washington, DC – April 14, 2021 (Shutterstock) By Oscar Gonzalez, CNET President Joe Biden has yet to lay out any plans on reducing the roughly $1.7 trillion of
By Jeff Cox, CNBC The setting for 2021 seems clear: A powerful growth trajectory fueled by an influx of government spending as the U.S. recovers from the Covid-19 crisis and heads into the fastest economic acceleration in nearly 40 years. But after that, then what? The path beyond this rocket-fueled
By Michele Lerner, Washington Post The possibility of a first-time home buyer tax credit of up to $15,000 was part of President Biden’s campaign proposal to boost the participation of first-time buyers in the housing market. But the first indication of a new program for first-time buyers is the Down
By Lydia DePillis The federal government has quietly reversed course on a policy that had kept thousands of businesses from applying for pandemic economic aid, with only weeks to go before funds are expected to run out. In late March, ProPublica reported on a Small Business Administration rule that disqualified individuals or
Close-up closing sign at J.C. Penney store facade building. Coronavirus (COVID-19) forced JCPenney to file for bankruptcy protection and closing many locations. – Dallas, TX, USA – Oct 7, 2020 (Shutterstock) By Christina Hughes Babb, DS News March experienced the highest monthly increase in new bankruptcy filings across all chapters—
By Zachary Warmbrodt, Politico Washington’s nearly $1 trillion small business rescue, now under the watch of President Joe Biden, is about to slam into a new obstacle — it’s already running out of money. The Small Business Administration is warning lawmakers that funds for the Paycheck Protection Program, which offers
By Adam S. Minsky, Forbes A settlement agreement with a private student loan debt buyer following the collapse of a for-profit college chain will result in $2.6 million in student loan forgiveness for former students. Pennsylvania Attorney General Josh Shapiro announced the agreement yesterday. The settlement agreement is with Elevation
By Aarthi Swaminathan, Yahoo Finance The pandemic-induced recession has led to a notable amount of Black women to declare bankruptcy, according to a report by nonprofit bankruptcy startup Upsolve. The report came from a bankruptcy questionnaire of 17,000 low-income users over the past year and found that COVID-19 has pushed
