Under section 365(d)(4) of the Bankruptcy Code, an unexpired lease of nonresidential real property is automatically deemed rejected if a debtor-lessee does not assume such lease within 120 days of its bankruptcy filing, or within 210 days with court permission.

This is the fifth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog.  We have concluded that a hypothetical U.S.-based bitcoin exchange likely would not constitute a stockbroker or a 

In a decision that could have far reaching implications on the manner and level of secured creditor participation in bankruptcy cases, the Court of Appeals for the Seventh Circuit recently held that the deadline for filing proofs of claim under Bankruptcy Rule 3002(c) applied to all creditors – both unsecured and secured.  Previously, secured creditors had relied on conflicting cases that permitted secured creditors to f

Restructuring professionals cite giving the debtor a “fresh start” as one of the goals of bankruptcy.  In order to assist the debtor, the Bankruptcy Code contains a number of provisions capping claims.  One of these provisions is 

On Wednesday, Congress announced the passage of the Bankruptcy Sale Incentive and Senior Support Act (“BSISSA”), which will make effective for those over age 65 a 15% discount on all 363 sales consummated on Tuesdays before 4:00 pm. House Speaker John Boehner made the announcement from a Golden Corral outside Scottsdale, Arizona. “We are pleased that BSISSA was supported by those on both sides of the aisle,” Boehner said.

This installment of the Weil Bankruptcy Blog’s series on the ABI Commission Report is the second of two posts that address the Commission’s recommendations relating to postpetition financing.

The timing of a bankruptcy petition filing is often a carefully calculated decision that a debtor makes to obtain certain protections of the Bankruptcy Code, most notably, the automatic stay, in advance of a looming event. In many cases, a debtor may be close to tripping a covenant, missing a debt payment, or a creditor may be attempting to foreclose on the debtor’s assets. The debtor must be cognizant of the timing of these events as the protections of the Bankruptcy Code only apply after the petition has been filed.

In the first part of our two-part series on 

“There’s no place like home…”

-Dorothy Gale

In case you were wondering, Columbus Day is in the top ten of “legal holidays” that Bankruptcy Rule 9006 recognizes.  Although the Weil Bankruptcy Blog is observing the holiday, we thought it provided a good opportunity to remind everyone of the diminished significance of legal holidays under Rule 9006.