On May 1, 2020, the United States Bankruptcy Court for the District of New Mexico ruled in favor of the Roman Catholic Church of the Archdiocese of Santa Fe (Archdiocese) granting a temporary injunction against the Small Business Administration (SBA) that had rejected the Archdiocese’s application for a Paycheck Protection Program (PPP) Loan under the CARES Act.
In an important affirmation of the rights and duties of a creditors’ committee, Bankruptcy Judge David T. Thuma of the United States Bankruptcy Court for the District of New Mexico has confirmed that a bankruptcy court may confer derivative standing on a committee to assert estate claims if a debtor in possession declines to assert them.[1]
In an important affirmation of the rights and duties of a creditors’ committee, Bankruptcy Judge David T. Thuma of the United States Bankruptcy Court for the District of New Mexico has confirmed that a bankruptcy court may confer derivative standing on a committee to assert estate claims if a debtor in possession declines to assert them.[1]
When a debtor files for bankruptcy, almost all proceedings to recover property from the debtor are automatically stayed by force of law. See 11 U.S.C. § 362(a). This provision, known as the automatic stay, is a central feature of the bankruptcy process, but uncertainty remains about aspects of its scope.
On June 14, 2016, Judge Thuma of the Bankruptcy Court for the District of New Mexico issued a memorandum opinion holding that a debtor could reject a prepetition settlement agreement that was determined to be executory in nature.
Yesterday, many citizens all over the country voted for local and state leaders and proposed ballot measures in their districts. Social media was abuzz with uploaded photos of individuals donning “I voted” stickers, and timelines were flooded with status messages urging people to exercise their civic rights and vote. Nevertheless, there were also those that opted not to vote, and their respective reasons varied.
On February 13, 2014, the New Mexico Supreme Court filed its Opinion in Bank of New York v. Romero, 2014-NMSC-007. The opinion in BNY v.
In re Furrs Supermarkets, Inc., No. 11-01-10779 SA (Bankr. D.N.M. Aug. 15, 2012)
CASE SNAPSHOT
Technical Knock Out (“TKO”): a boxing term used to describe a situation where one boxer is deemed the winner after knocking the other down three times. In this case, a TKO can also be used to describe a recent ruling by the United States District Court for the District of New Mexico.
Yesterday, many citizens all over the country voted for local and state leaders and proposed ballot measures in their districts. Social media was abuzz with uploaded photos of individuals donning “I voted” stickers, and timelines were flooded with status messages urging people to exercise their civic rights and vote. Nevertheless, there were also those that opted not to vote, and their respective reasons varied.