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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.
United States District for the District of Columbia Judge Dabney Friedrich, threw out the U.S. Centers for Disease Control and Prevention’s nationwide moratorium on evictions, blocking enforcement. Judge Friedrich explained that the plain language in the Public Health Service Act blocks the moratorium.