What: This evening, March 19, Senate Majority Leader Mitch McConnell introduced a bill called the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The proposed bill is intended to provide relief to various sectors of the U.S. economy. Of particular interest is the Coronavirus Economic Stabilization Act of 2020, set forth in Division C, Title I of the proposed bill, which provides assistance to severely distressed sectors of the U.S. economy, including (but not limited to) airline carriers.
Who Does This Impact:
USA, Company & Commercial, Insolvency & Restructuring, Public, Kramer Levin Naftalis & Frankel LLP, Coronavirus, US Senate
The Bottom Line:
USA, Banking, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Debtor, Ninth Circuit, United States bankruptcy court, Bankruptcy Appellate Panel
The Bottom Line:
USA, New York, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Fraud, United States bankruptcy court
The Bottom Line:
USA, Insolvency & Restructuring, Insurance, Litigation, Kramer Levin Naftalis & Frankel LLP, US Constitution, Second Circuit, United States bankruptcy court