We provide insight and analysis on complex issues affecting distressed businesses or funds throughout the United States and abroad. Our Bankruptcy team is available to speak on various bankruptcy issues and claims. Contact us to learn more.
A trend is emerging. Another court holds a Subchapter V corporate debtor can discharge certain debts.
The United States District Court for the Southern District of New York issued an opinion on October 18, 2022, finding that a security deposit for a commercial lease was nothing more than an unsecured loan to the landlord rather than a deposit held in trust.
Bankruptcy filings have started to increase this year and the number of new cases filed in March jumped significantly from February, but remain below last year's numbers, according to data released on Tuesday by legal research firm Epiq.
Workout and bankruptcy professionals braced themselves for a wave of consumer and commercial bankruptcy filings because of the COVID-19 economic recession. Afterall, shuttered businesses led to the highest rates of job loss in recent memory. Business interruption and job loss usually result in bankruptcy filings. Instead, we saw a major drop in filings.
All too often, after protracted and contentious litigation, the parties finally reach a settlement that requires the opposing party to pay your client over time, only to find that they file bankruptcy shortly after the ink dries. There is language you can include in a settlement agreement that could prevent the agreement from being completely undone.