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Court Rules That Financed Residential Solar System Is a Consumer Good, Not a Fixture

Whether a solar system is a “fixture” sounds like a mundane legal issue – but it has significant implications for the residential solar industry and for the financing of residential solar systems. If a system is regarded as a “fixture” of the house to which it is attached, then the enforceability and priority of the finance company’s lien on the system will be subject to applicable real estate law.

USA, Banking, Insolvency & Restructuring, Litigation, Bradley Arant Boult Cummings LLP, Uniform Commercial Code (USA)
Bradley’s Bankruptcy Basics: The Automatic Stay and the “Why” Behind the Warnings: What Happens Once a Debtor Files for Bankruptcy?

Many creditors have been warned of the need to halt collection efforts once they are put on notice that a debtor has filed for bankruptcy. However, the “why” behind this warning, mainly the automatic stay, is often misunderstood or disregarded. Since violations of the automatic stay can have serious ramifications, it is crucial that creditors know what the automatic stay is, what it protects, and how to get relief from the stay so that the creditor can proceed with collection efforts.

What Is the Automatic Stay? What Does It Protect?

USA, Insolvency & Restructuring, Bradley Arant Boult Cummings LLP
Alabama Bankruptcy Court Substantially Reduces Award of Attorney’s Fees

In practice, it is not uncommon for bankruptcy debtors to file suit against creditors or debt collectors for stay and discharge injunction violations. Often, they will do so before making any meaningful attempt to communicate with the creditor or debt collector to request that they stop their improper collection efforts.

USA, Alabama, Insolvency & Restructuring, Litigation, Bradley Arant Boult Cummings LLP
Individual Employs New Small Business Bankruptcy Law to Modify Mortgage

Small businesses often struggle to reorganize in bankruptcy. To address this issue, Congress passed the Small Business Reorganization Act of 2019 (the SBRA). The SBRA took effect in February 2020 and makes small business bankruptcies faster and less expensive.

USA, Insolvency & Restructuring, Litigation, Bradley Arant Boult Cummings LLP, Coronavirus
The Financially Distressed Subcontractor on a Government Contract: What a Prime Contractor Should Do to Protect the Project and Itself

Some bankruptcy experts predict an increase in business failures for government contractors in the coming years. Increased demands and constraints on government spending will stress both prime contractors and subcontractors. As federal regulations generally place the burden of compliance on prime contractors, a financially distressed subcontractor is a concern not only for the sub, but also for the prime contractor.

A sub’s financial problems jeopardize the sub’s ability to perform its subcontract and, thus, pose serious threats to a prime contractor, including:

USA, Insolvency & Restructuring, Projects & Procurement, Bradley Arant Boult Cummings LLP, Subcontractor