When a creditor receives a proposed Chapter 11 plan of reorganization in the mail promising the debtor will pay the creditor 100% over time it can be tempting to vote quickly in favor. However, it is important to remember that
In my blog post from November 2020 I discussed disgorgement of debtor attorney fees under 11 U.S.C. § 329 for excessiveness. The main objective was to remind debtor attorneys that their fees are supervised by the bankruptcy court and to
Part of the new $900 Billion COVID-19 relief packaged entitled Division FF, “Title X-Bankruptcy Relief,” provides for certain updates to highly contentions matters facing the bankruptcy courts since the start of the pandemic. Namely, Division FF addresses issues regarding the
Bankruptcy Judge Cynthia Norton of Kansas City, Mo., split with three sister bankruptcy courts last week and found a debtor must be currently engaged in business to qualify for reorganization under the Small Business Reorganization Act/Subchapter V of chapter 11
The coronavirus (COVID-19) pandemic caused the U.S. economy to fall into a recession last spring due to lockdowns and other social distancing measures. It was predicted at the time that this would lead to an increase in bankruptcy filings. However,
As the COVID-19 pandemic takes its toll on the economy, businesses and individuals alike will need legal services and will be looking to attorneys for help. As attorneys we have an ethical duty and professional responsibility to charge and collect
The United States Bankruptcy Appellate Panel (“BAP”) for the 10th Circuit
Applying Iowa law, recently upheld an award of post-petition interest of $377,097.31 at a rate of 18% (accruing at $900 per day) as well as over $200,000 in attorneys’
On November 1, 2020, mall owner CBL & Associates Properties, Inc. and 176 affiliated companies, collectively, the “Debtors”, each filed petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the
Century 21 Stores
Century 21 Stores, an off-price retailer with 13 stores across New York, New Jersey, Pennsylvania, and Florida filed for Chapter 11 bankruptcy protection on September 10, 2020 in New York citing the nonpayment of the company’s insurance
The COVID-19 pandemic has devastated the hospitality industry.
Business and leisure travel have decreased significantly and in turn hotel occupancy rates have fallen greatly in many markets, with employee layoffs and property closures. It is uncertain when the industry will
