A local group of bankruptcy judges and insolvency professionals has published recommendations for ways that the U.S.
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The new year brings several changes to bankruptcy practice through the enactment of the Consolidated Appropriations Act, 2021 (CAA), which augments the CARES Act by expanding the Paycheck Protection Program (PPP), adding stimulus programs and installing coronavirus relief valves for troubled sectors of the economy.[1] Those relief valv
Recent allegations of impropriety of bidders in the reorganization of Neiman Marcus Group Ltd. LLC should serve as a reminder to study the line between mere auction strategy and collusive bidding. The word “collusion” itself seems to cause confusion whenever it is uttered in the political or legal realms.
One of the hallmarks of purchasing assets from a bankruptcy estate under § 363 of the Bankruptcy Code is the perceived ability of a buyer to purchase those assets “free and clear of any interest in such property” if certain conditions are met.[1] A common phrasing in many motions seeking to sell assets under § 363 is that the assets ar
ABI’s Asset Sales and Ethics and Professional Compensation Committees sponsored a great webinar on Feb.
Hospitals and health care providers now face intensified pressures arising from the pandemic, with the American Hospital Association reporting that the cumulative impact of such conditions could raise the serious threat of bankruptcy or closure for providers.[1]
Of all the industries most adversely affected by the global pandemic, the nursing care sector — comprised of both post-acute and long-term-care providers — has suffered greatly. The pandemic presented unthinkable operational challenges to the skilled-nursing sector in particular, resulting in significant adverse financial consequences.
A new administration always brings changes to the Securities and Exchange Commission. Whereas here the new President is of a different party than the outgoing President, changes are more pronounced. The composition of the Commission changes moving from a Republican majority to a Democratic majority.
Conducting a thorough investigation of a debtor’s pre-petition activity can yield potential preference and fraudulent-transfer claims that can be valuable assets in a bankruptcy estate. Identifying potentially avoidable transfers goes hand in hand with evaluating the debtor’s financial condition to determine whether the debtor was insolvent when the transfer was made.
Bank records are of particular interest and importance to forensic accountants and receivers, as they reflect an entity’s actual financial history. In fact, bank records can tell a powerful story. We identified bank statements in several of our investigations that were electronically manipulated to reflect deceptive and fraudulent statement entries.
