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To Return or Not To Return. That Is The Question.
Category: Bankruptcy, Restructuring & Creditor-Debtor Rights
Most lawyers and bankers understand the basic terms of the automatic stay when a Debtor files bankruptcy. 11 USC section 362 applies to all bankruptcy chapters and provides as follows: (a)Except as provided in subsection (b) of this section, a petition filed under section 301, 302, or 303 of this…
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Force Majeure Clauses, Bankruptcy, and Covid-19
Category: Bankruptcy, Restructuring & Creditor-Debtor Rights, Coronavirus (COVID-19)
COVID-19 has forced many businesses to temporarily close and absorb unforeseen significant profit losses based on governmental executive orders. Motivated by the pandemic’s economic fallout and the influx of bankruptcy filings, bankruptcy courts are now looking to equitable remedies, such as force…
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Bankruptcy Courts are Easing Traditionally Rigid Lease Payment Requirements for Commercial Tenants In COVID-Related Filings
Category: Banking, Bankruptcy, Restructuring & Creditor-Debtor Rights, Business, Coronavirus (COVID-19), Litigation
Bankruptcy courts in multiple jurisdictions have granted tenant-friendly relief to companies that have filed for Chapter 11 bankruptcy in recent months. While the Bankruptcy Code typically requires timely performance of lease obligations under 11 U.S.C. § 365, bankruptcy courts have employed…
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