To amend the CARES Act to extend the sunset for the definition of a small business debtor, and for other purposes.
Alexandria, Va. — An article in the Winter 2021 edition of the American Bankruptcy Institute (ABI) Law Review (Volume 29, No. 1) aims to inform small business debtors of the implications that COVID-19 will have on their businesses, as well as suggest ways to further streamline the chapter 11 bankruptcy process in the aftermath of COVID-19. “To further the purpose of subchapter V, bankruptcy courts should adopt any applicable precedent from existing chapter 12 and chapter 13 cases to new subchapter V cases, thereby saving the time and expense of litigation,” writes Amber N. Morris, in her article “Small Business Debt in the Age of COVID-19.”
While her paper was submitted for inclusion last year while she was finishing her J.D. at Penn State Law, Norris is now the judicial law clerk for Chief Justice Thomas G. Saylor at the Supreme Court of Pennsylvania. Morris’s article first assesses the various implications of COVID-19 on the current bankruptcy landscape. She provides a background on U.S. bankruptcy reforms in the 21st century, then discusses the state of the U.S. economy in the age of COVID-19, briefly describing relevant sections of the CARES Act and the CRRSAA in relation to bankruptcy law. Her paper next analyzes the effects COVID-19 will have on small business debtors, including a discussion of business-interruption insurance proceeds, PPP loans and debtor-in-possession (DIP) financing.
Other articles included in the Winter 2021 ABI Law Review include:
- “Fraudulent Transfers: Void and Voidable” by Prof. David Gray Carlson of Cardozo Law (New York).
- “Non-Statutory Insiders Under the Bankruptcy Code After U.S. Bank National Association v. The Village at Lakeridge, LLC” by Prof. Scott F. Norberg of Florida International University College of Law (Miami).
ABI’s Law Review, published in conjunction with St. John’s University School of Law in Jamaica, N.Y., is among the most cited and respected scholarly publications in the bankruptcy community. Now in its 29th year, it has the largest circulation of any bankruptcy law review. Past issues of the Law Review have focused on a variety of timely insolvency issues, including chapter 11 reform, distressed sectors, single-asset cases, consumer bankruptcy, revised Article 9 of the Uniform Commercial Code and other topics.
Members of the press looking to obtain any of the articles from the Winter 2021 issue should contact John Hartgen at 703-894-5935 or [email protected]
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 11,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abi.org/calendar-of-events.