The current worldwide health emergency has had serious effects on Mexico's economy. Companies in various sectors and industries are facing serious financial difficulties due to decreasing income, which is having a further effect in complying with their obligations before their creditors.

• The U.S.

On May 6, 2020, in the case of In re Peabody Energy Corporation, 958 F.3d 717 (8th Cir.), the U.S. Court of Appeals for the Eighth Circuit held, in an apparent case of first impression, that state statutory and common-law climate change tort claims are dischargeable in bankruptcy and were in fact discharged in this case, affirming the decisions of the lower courts.¹

Highlights

Highlights

• With tenant closures and lease defaults on the rise in the wake of the economic downturn caused by the COVID-19 pandemic, tenant bankruptcy filings are a major concern for landlords across the real estate industry.
• As courts of equity, bankruptcy courts not only consider the specific facts and circumstances of each case but also, because of the overriding goal of reorganization in bankruptcy, may subordinate other legal rights and policies.

In ordinary times, a supplier of goods looks to customer-specific underwriting considerations to weigh the benefit of extending credit to a new or existing customer against the risk that the customer will fail to pay for the goods or services supplied. These are not ordina

The U.S. Bankruptcy Court for the Southern District of Texas awarded on Oct.

As predicted in Holland & Knight's Energy and Natural Resources Blog post on March 16, 2020, "Midstream Providers Can Prepare for the Next Wave of Restructurings," the dual impact of a COVID-19 demand slump and market pricing pressures would lead to a host of bankruptcy filings by exploration and production (E&P) companies.

• In light of the economic downturn caused by the COVID-19 pandemic, bankruptcy and restructuring considerations are a reality for many organizations.
• Debtors reorganizing under Chapter 11 of the U.S. Bankruptcy Code should be aware that environmental obligations may be exempt from the automatic stay and that some environmental obligations will not be dischargeable in bankruptcy.
• This Holland & Knight alert provides an overview of common issues arising at the intersection of bankruptcy and environmental law.

With economic downturn comes bankruptcy.