By Chris Tobias In these tough economic times many individuals and businesses are finding it difficult to meet their financial obligations. If your situation is not imminently dire there are steps you can take to ward off a bankruptcy. Establishing and maintaining good credit is not as hard as one
By Leslie A. Pappas, Bloomberg Law A recent Second Circuit decision is adding fuel to a growing momentum in the courts to allow borrowers to eliminate certain types of private lender-issued student loans in bankruptcy. The U.S. Court of Appeals for the Second Circuit, siding with a student debtor, July
By Teadra Pugh and Jacquelyn Palmer, Bloomberg Law After the Consolidated Appropriations Act of 2021 (CAA 2021) was signed into law last December, bringing several new and temporary amendments to the Bankruptcy Code, some bankruptcy attorneys were optimistic that the provisions specifically designed to address commercial real estate (CRE) leases
By Pamela Foohey, Dalié Jiménez and Christopher K. Odinet, The Hill Relief programs created during the COVID-19 pandemic provided many Americans with pauses on their largest debts, particularly mortgages and student loans. Other people came to agreements with auto loan and credit card lenders about payment. This relief helped many
By Epiq Global Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its May 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. The new filings for May dropped to 34,734 across all chapters. This is a 15% drop from the April 2021
By DS News According to the U.S. Courts website, the fundamental goal of the Federal bankruptcy laws enacted by Congress is to give debtors a financial “fresh start” from burdensome debts and provides for “liquidation” in a Chapter 7 filing—the sale of a debtor’s property and the distribution of the
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,
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—
