The COVID - 19 pandemic has had a tremendous and unprecedented impact on the global economy.To mitigate this, many governments have introduced temporary relief measures to help local businesses.

Los jueces de los juzgados mercantiles de Barcelona han publicado un conjunto de directrices básicas para la tramitación de los ‘pre-packs’ concursales españoles, introduciendo la herramienta, opcional, del “administrador silente” (‘silent administrator’). Las directrices se aprobaron en el contexto de un seminario organizado el pasado 20 de enero.

After bringing dozens of criminal charges against Paycheck Protection Program loan recipients in recent months, on January 12, the US Department of Justice announced its first civil settlement resolving allegations of PPP loan fraud.

On December 27, 2020, President Donald J. Trump signed the Consolidated Appropriations Act of 2021 (“CAA”) into law. The CAA was enacted in part to expand the economic stimulus relief provided by the Coronavirus, Aid, Relief and Economic Security Act (“CARES Act”) signed into law six months earlier. Like the CARES Act, the CAA temporarily modifies the Bankruptcy Code to provide greater protections for debtors and certain creditors in bankruptcy.

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On 18 January 2021, the Court of Appeal in Md Isa Bujang v CIMB Bank Berhad dismissed a bankrupt’s appeal against a High Court decision that struck out his claim for, inter alia, damages of RM22,445,601.64 against CIMB Bank Berhad for delay in the auction of his property charged to the Bank. The Bank was represented by our Partner, Claudia Cheah and Senior Associate, Aufa Radzi.

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Alerts and Updates

The Court’s decision provides greater certainty for creditors who passively retain estate property that they obtained pre-petition.

The Bankruptcy Protector

In City of Chicago, Illinois v. Fulton, No. 19-357, 2021 WL 125106, at *1 (U.S. Jan. 14, 2021), the United States Supreme Court considered the issue of whether the mere retention of estate property after the filing of a bankruptcy petition violates section 362(a)(3) of the Bankruptcy Code. Reversing the Seventh Circuit and resolving a split among the circuits, the Supreme Court ruled unanimously on January 14, 2021 “that mere retention of property does not violate the [automatic stay in] § 362(a)(3).”

Case Name and Number: Chicago v. Fulton, No. 19-357

Introduction: In an 8-0 opinion issued today, the Supreme Court held that a creditor’s passive retention of property properly seized from a debtor pre-bankruptcy does not violate the automatic stay under 11 U.S.C. § 362(a)(3).

In the recently-passed Consolidated Appropriations Act, 2021 (the "Act"), Congress provided much-needed cover for landlords that enter into forbearance agreements with their tenants during the COVID-19 pandemic by protecting landlords from exposure to preference litigation arising out of the deferred rent payments if the tenant were to later file bankruptcy.

What is a preference?

While many California homeowners have heard of the homestead exemption, few understand how this powerful tool can be used to ensure that homeowners stay in their homes, despite creditors, judgments, and even bankruptcies. Below, the experienced California bankruptcy attorneys at Talkov Law provide the tips and tricks to maximize your California homestead exemption.