News & Analysis as of

Financial Distress Commercial Bankruptcy Chapter 7

Fox Rothschild LLP

Assignments for the Benefit of Creditors – an often-overlooked state law alternative to Chapter 7 bankruptcy

Fox Rothschild LLP on

For some folks the three letters ABC are a reminder of elementary school and singing a song to learn the alphabet. For others, it is a throw back to the early 70’s when the Jackson Five and its lead singer Michael, still...more

McGlinchey Stafford

Podcast: Cannabis and Bankruptcy, Ep. 1: Considerations for Individuals [More with McGlinchey, Ep. 53]

McGlinchey Stafford on

Starting a cannabis business is often discussed, but maintaining a business, particularly during a downturn in the industry, is a completely different ballgame. Pockets of the cannabis industry are experiencing financial...more

Lowenstein Sandler LLP

Preference Defense In the Wake Of The Pandemic: A Primer

Nothing is more frustrating to a trade creditor holding a large unpaid balance owed by a debtor in bankruptcy than the risk that payments the trade creditor received before the debtor filed bankruptcy may be clawed back by...more

Rosenberg Martin Greenberg LLP

The Trustee Is Suing Me For A Transfer I Received How Many Years Ago?

Any creditor that has experienced more than a few customers or borrowers filing for bankruptcy is aware that there is a risk of being sued by a trustee to avoid transfers that the creditor received prior to the bankruptcy...more

Cozen O'Connor

COVID Cash Crunch: Options for Reorganizing or Winding Down Your Company in Illinois

Cozen O'Connor on

The financial distress caused by the COVID-19 pandemic has left many companies reeling. With no clear end in sight, the bad news is that some businesses will be forced to pursue options for winding down or reorganizing....more

Cooley LLP

Alert: Options for US Small Businesses in Distress in Age of COVID-19

Cooley LLP on

In the wake of the COVID-19 pandemic, more and more businesses are finding themselves in distress. According to Forbes, 30 million small businesses across the United States are experiencing financial distress, with half of...more

Lowndes

Cannabis Companies Can’t File for Bankruptcy - So Now What?

Lowndes on

The government’s response to the COVID-19 pandemic has resulted in federal assistance to numerous industries and individual taxpayers, but notably has left the state legalized marijuana industry out in the cold....more

Dechert LLP

In Second Circuit, “Economic Reality” and Degree of Control to Determine Whether an “Employer” Faces “Single Employer” Liability

Dechert LLP on

In a recent decision on motions for summary judgement in the TransCare case, the SDNY bankruptcy court addressed the test for the imposition of liability under the US and New York Worker Adjustment and Retraining Notification...more

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