On December 9, 2020, Congressional Democrats, including Elizabeth Warren (D-Mass.) and Jerrold Nadler (D-N.Y.), proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes generally make it easier for consumers to access the bankruptcy system and discharge their debts. Below is a discussion of 10 critical changes proposed in the Consumer Bankruptcy Reform Act of 2020 (CBRA).

1. Chapters 7 and 13 Are Replaced with New Chapter 10

El Auto del Juzgado de lo Mercantil nº10 de Barcelona, del pasado 29 de julio, ha permitido el nombramiento de un administrador antes del concurso para facilitar la venta de la unidad productiva antes de la declaración de concurso. Con ello, se ha permitido una medida equivalente al “pre-pack” anglosajón, favoreciendo una liquidación más eficiente y evitando incrementar el pasivo de la concursada.

In a notable decision interpreting the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Bankruptcy Court for the Middle District of Alabama held that Chapter 13 debtors behind on their payments before March 2020 may seek modification of their plan if they suffered from COVID-19 related financial distress.

Translating to “now for then,” nunc pro tunc orders grant backdated relief. Such orders are common in bankruptcy cases. For instance, bankruptcy courts often enter orders retroactively approving retention of professionals, and in certain cases even granting retroactive relief from the automatic stay.

Your former employee sues you, but your employee-plaintiff filed for bankruptcy. You diligently research the bankruptcy filings and discover the employee did not disclose the lawsuit against you in those filings, which are sworn to under oath. You might have a winner to get out of the case, right? Well, it is not quite that simple, according to a recent ruling in Georgia.

Recently, in Artesanias Hacienda Real S.A. De C.V. v. North Mill Capital, LLC; Leisawitz Heller, the Third Circuit held that creditors can pursue claims of the bankruptcy estate that have been abandoned by the trustee.

Earlier this year, Chapter 11’s new Subchapter V became a part of the Bankruptcy Code when the Small Business Reorganization Act of 2019 (SBRA) became effective.

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.

La jurisprudencia de la Sala de lo Civil del TS avala, con ciertos límites, las cláusulas de los convenios de acreedores en las que se prevé la pérdida del crédito de los acreedores que no comuniquen en un plazo determinado su número de cuenta bancaria. Una reciente sentencia de 2019 ha matizado el alcance tradicional de esta doctrina.

Nos acercamos a los 100 días de la pandemia que ha sacudido nuestro modo de vivir y trabajar y ha llevado nuestra economía a una situación de crisis cuya profundidad y extensión están aún por definir pero se esperan muy amplias.