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A Creditor’s Perspective: The Bankruptcy Trustee

The Bankruptcy Protector

Friend or Foe?

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Recent Sixth Circuit BAP Case Shows Risks To Lawyers Arising From Violations Of Discharge Injunction

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Injunction, Sixth Circuit
Chapter 13: What can I do as a creditor’s attorney?

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
The Sea Pines Bankruptcy Case

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Bankruptcy Venue — Between a Rock and a Hard Place

The Bankruptcy Protector

USA, New York, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Coronavirus
Venue Provisions Fail to Provide Relief in Smaller Dollar Preference Cases

The Bankruptcy Protector

Almost two years ago, the Small Business Reorganization Act of 2019 (SBRA) was enacted. While the provisions regarding the new Subchapter V reorganization received the most press (streamlined chapter 11 for businesses with debts of no more than $7,500,000), the SBRA also included other important changes to the Bankruptcy Code. Among these additional changes was an increase in the venue threshold under 28 U.S.C. § 1409(b) to $25,000.00 as follows:

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP
Confusion Involving Constitutionality of U.S. Trustee Fee Increase

The Bankruptcy Protector

In 2017, Congress enacted an amendment imposing a sharp increase in quarterly fees owed to the United States Trustee program by many chapter 11 debtors. Expectedly, the constitutionality of that decision has been challenged on several grounds, and there is considerable disagreement among the circuits.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Supreme Court of the United States
It Is, In Fact, Expensive To Be Erika Jayne

The Bankruptcy Protector

“It’s expensive to be me / Looking this good don’t come for free.” —Erika Jayne, “XXpen$ive”

Real Housewives of Beverly Hills cast member Erika Girardi, more commonly known as Erika Jayne, is the latest example of just how powerful (and expensive) an involuntary bankruptcy proceeding can be.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Small Business Administration (USA)
Client Alert: The Impact of Recent Amendments to the United States Bankruptcy Code on Lenders

On March 27, 2021, President Biden signed into law the COVID-19 Bankruptcy Relief Extension Act (the Extension Act). The Extension Act temporarily extends certain bankruptcy relief provisions that were enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), as further amended and/or extended as part of the Consolidated Appropriations Act (the CAA) which was signed into law on December 27, 2020. This alert highlights the impact of these changes on banks and other lenders.

Subchapter V Debt Limits

USA, Insolvency & Restructuring, Real Estate, Bowditch & Dewey LLP, Coronavirus, CARES Act 2020 (USA)
Rent Abatement, PPP Loans (Maybe), and Other Bankruptcy Relief in the Appropriations Act

On December 27, 2020, the Consolidated Appropriations Act, 2021 became law. In addition to funding the government and providing coronavirus relief, the Act contains several intriguing amendments to the Bankruptcy Code. The changes discussed below are intended to make restructuring under subchapter V of chapter 11 more attractive for small businesses.

Rent Abatement for Small Business Tenants

USA, Insolvency & Restructuring, Real Estate, Bowditch & Dewey LLP, Coronavirus, Paycheck Protection Program, CARES Act 2020 (USA)