On Jan. 12, 2021, President Donald J. Trump signed the “Bankruptcy Administration Improvement Act of 2020” into law. The bipartisan legislation was introduced in the Senate by Sen. Lindsey Graham (R-S.C.) and cosponsored by Sens. Christopher A. Coons (D-Del.), Marco Rubio (R-Fla.), Benjamin L. Cardin (D-Md.), Marsha Blackburn (R-Tenn.) and Thomas R. Carper (D-Del.).
H.R. 133, the Consolidated Appropriations Act of 2021, is a proposed $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year. On Dec.
In the wreck of the Great Recession, numerous borrowers sought to avoid their homestead’s foreclosure despite material payment defaults. Many took advantage of chapter 13, which empowers, inter alia, an individual with a regular income to cure precisely such failures over time under § 1322 (b)(5).
One year into the economic crisis caused by the COVID-19 pandemic, unemployment rates have already surpassed the high levels seen during the Great Recession in 2009. [1] Like everyone in this country and around the world, debtors are struggling.
When a debtor reaffirms a dischargeable debt, this means the obligation will survive discharge and continue to be enforceable.
The Consolidated Appropriations Act of 2021 (CAA), which passed in Congress on Dec. 27, 2020, introduced some noteworthy additions to the Bankruptcy Code. One such issue is the changing relationship between chapter 13 debtors and mortgage lenders when it comes to forbearance requests under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Regarding chapter 13, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in part allows chapter 13 debtors experiencing a material financial hardship as a result of the COVID-19 pandemic to modify the length of their bankruptcy plan to a maximum of 84 months [1], up to an additional 24 months if the plan was initially s
One of the many ways the COVID-19 pandemic has upended litigation is by making in-person depositions, for the time being, practically impossible. But cases must still go forward, so courts and parties have increasingly turned to remote deposition technology to keep litigation moving.
As state and local governments begin to reinstate or expand restrictions on the operation of retail establishments and restaurants to curb the spread of the novel coronavirus, operators of such establishments and their lessors must again focus on who must shoulder the economic impact of that burden.
A small business debtor who elects to proceed under subchapter V of chapter 11[1] has the same rights and powers to sell property under 11 U.S.C.
