The Small Business Reorganization Act (SBRA) became effective in February 2020.[1] The SBRA, or subchapter V, is intended to encourage small businesses to use the Bankruptcy Code to reorganize by reducing the costs and administrative burdens associated with a typical chapter 11 case.
Committees
The U.S. Trustee Program (USTP), an arm of the Department of Justice that provides oversight for bankruptcies in all but two states, is funded by fees charged to debtors (U.S. Trustee fees). In Alabama and North Carolina, a Bankruptcy Administrator program, run by the Judicial Conference of the United States, provides a similar function and charges its own fees (Bankruptcy Administrator fees).
In a recent decision in “a matter of first impression,” the U.S. Court of Appeals for the Third Circuit squarely rejected the view that “triangular setoffs” fall within the protective circle of § 553 of the Bankruptcy Code.
On March 27, President Joseph Biden signed the COVID-19 Relief Extension Act into law. The Act extends for another full year the provisions of the Coronavirus Aid, Relief and Economic Security Act (CARES Act) that temporarily modified the Bankruptcy Code and the Small Business Reorganization Act of 2019 (SBRA), or subchapter V of chapter 11.
In 2020, New York State passed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020[1] (“moratorium”).
Although COVID-19 forced many in our legal community to adapt to working remotely, the Young and New Members Committee remained incredibly productive this year. Below are some highlights — both past and future — since our update earlier this year.
Quarterly Newsletters
On April 10, 2020, a panel of the Eleventh Circuit Court of Appeals unanimously held in Lawson-Ross v. Great Lakes Higher Ed.
By enacting the Small Business Reorganization Act of 2019 (SBRA), Congress sought to provide small businesses the opportunity to avail themselves of the benefits of chapter 11 reorganization under the Bankruptcy Code.[2] As the heart of the SBRA, subchapter V aims to lower the high costs and complexities associate
The legal and economic side effects of the COVID-19 outbreak will continue for some time across Turkey. A major area of interest for the future health of the Turkish economy is bankruptcy law. In this context, we aim to explain bankruptcy proceedings in Turkey in general and predict what will be expected in the future in the eye of Turkish insolvency law.
A consumer client comes in for a bankruptcy consultation. You can’t just look at their financial situation, you must also examine their life: who do they live with, where do they work, where does their spouse work? Perhaps one of the more difficult questions consumers face is whether they want to keep their car. Consumers need to know what their options are if they surrender their cars.
Tue, 2017-05-30
The Unsecured Trade Creditors Committee's May Tips of the Trade call featured Neil Steinkamp of Stout Risius Ross, LLC, who discussed the ordinary course of business defense in the context of preference analysis.
Tue, 2017-05-30
This May edition of the ABI Bankruptcy Litigation Committee Newsletter focused on bankruptcy litigation issues in energy sector restructurings. The newsletter featured an article exploring assumption and rejection of oil and gas conveyances, and an article discussing CERCLA liabilities in energy-related cases. Following publication of this newsletter, both authors hosted a call to discuss the issues explored in their articles. Click here to review the articles.
Sat, 2017-04-22
This session hosted by the Bankruptcy Litigation and Young and New Member Committees will focus on the limits of avoidance actions by bankruptcy trustees in Ponzi scheme cases, including arguments about the expansion of the look-back period to 10 years, trustee standing, clawbacks from noninvestor sources, in pari delicto and how trustees decide whom to sue.
Tue, 2016-11-29
The topic of the most recent Commercial Fraud Committee call, discussed the Uniform Voidable Transactions Act (UVTA), formerly named the Uniform Fraudulent Transfer Act (UFTA), which was amended (and retitled) in 2014 for the first time since its creation in 1984. According to the Uniform Law Commission, the amended Act, which strengthens creditor protections by providing remedies for certain transactions by a debtor that are unfair to the debtor’s creditors, addresses a small number of narrowly-defined issues and is not a comprehensive revision of the Act.
Tue, 2016-05-03
Crossing the Digital Divide: How to Use Social Media to Augment Your Practice
Wed, 2016-03-30
The Unsecured Trade Creditors' Committee's call discussed “gifting” and other recent developments regarding application of the absolute priority rule.
Wed, 2015-10-07
The ABI Bankruptcy Litigation Committee recently published a newsletter with articles focusing on IP matters in bankruptcy litigation. Following publication of the newsletter, authors invited members to dial in for further discussion of the topic and articles.
Tue, 2015-09-08
The Asset Sales Committee will host John Hutton and Henry Jaffe as they discuss the GM successor liability decision, now on appeal in the Second Circuit, describing the arguments and positions taken by different parties on key issues in the case and discussing the potential impact of the ruling on appeal.
Wed, 2015-07-01
The ABI Commission Report proposes some significant changes to the Bankruptcy Code, and the preferential transfer statute in Section 547 is no exception.This webinar explores the rationale behind the recommendations, such as the good faith belief for filing a demand letter or preference complaint, the increase in the statutory minimum to bring a preference action, and more.
Sat, 2015-04-18
Tax-Sharing Agreements in Bankruptcy that Have Been the Subject of Recent Appeals Courts Decisions
Mr. David R. Doyle
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-1648
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-1648
Ms. Tara J. Schellhorn
Co-Chair
Riker, Danzig, Scherer, Hyland & Perretti LLP
Morristown, NJ
(973) 538-0800
Co-Chair
Riker, Danzig, Scherer, Hyland & Perretti LLP
Morristown, NJ
(973) 538-0800
Mr. John T. Baxter
Communications Manager
Nelson Mullins Riley & Scarborough, LLP
Nashville, TN
(615) 664-5323
Communications Manager
Nelson Mullins Riley & Scarborough, LLP
Nashville, TN
(615) 664-5323
Ms. Bodie B. Colwell
Education Director
Preti Flaherty
Portland, ME
(207) 791-3000
Education Director
Preti Flaherty
Portland, ME
(207) 791-3000
Ms. Christina Sanfelippo
Education Director
Cozen O'Connor
Chicago, IL
(312) 474-4455
Education Director
Cozen O'Connor
Chicago, IL
(312) 474-4455
Ms. Gabrielle G. Palmer
Membership Relations Director
Siri & Glimstad LLP
Littleton, CO
(720) 419-0263
Membership Relations Director
Siri & Glimstad LLP
Littleton, CO
(720) 419-0263
Mr. Christian A. Pereyda
Membership Relations Director
Maynard, Cooper & Gale, P.C.
Birmingham, AL
(205) 254-1854
Membership Relations Director
Maynard, Cooper & Gale, P.C.
Birmingham, AL
(205) 254-1854
Mr. Joseph M. Esmont
Newsletter Editor
BakerHostetler
Cleveland, OH
(216) 861-7835
Newsletter Editor
BakerHostetler
Cleveland, OH
(216) 861-7835
Ms. Alexandra CC Schnapp
Newsletter Editor
U.S. Bankruptcy Court, Northern District of Georgia
Atlanta, GA
(404) 215-1005
Newsletter Editor
U.S. Bankruptcy Court, Northern District of Georgia
Atlanta, GA
(404) 215-1005
Mr. John Richard O'Connor
Special Projects Leader
Sugar Felsenthal Grais & Helsinger LLP
Chicago, IL
(630) 308-2487
Special Projects Leader
Sugar Felsenthal Grais & Helsinger LLP
Chicago, IL
(630) 308-2487