The United Nations Commission on International Trade Law Working Group V has been working on a simplified insolvency regime for six sessions because “[m]icro, small and medium-sized enterprises (MSMEs) (MSEs) constitute the majority of businesses in economies around the world.”[1] Its efforts are aimed at ameliorating the effects of ri
In a June 3, 2020, decision,[1] the U.S. Bankruptcy Court for the Northern District of Illinois held that a force majeure provision partially excused a restaurant’s obligation to make post-petition rental payments after the Governor of Illinois, J.B.
On May 15th, JCPenney announced that the company was filing for chapter 11 relief. Another in a trend of major retailers filing for bankruptcy.
In a matter of first impression,[1] the U.S.
The McDermott International bankruptcy plan had already been confirmed by the time the hearing was held on the retention applications described herein.[1] The Honorable David R.
The U.S. Bankruptcy Court for the Southern District of Alabama recently issued a reminder for all attorneys trying to ensure payment for their work.[1] The warning? Exercise a little common sense, practice a little professional courtesy, and don’t jump right into litigation.
Section 523(a)(7) excepts from bankruptcy discharge a debt “to the extent such debt is for a fine, penalty, or forfeiture payable to and for the benefit of a governmental unit, and is not compensation for actual pecuniary loss.”[1] The law is clear that restitution payments constitute debts excepted from discharge under Section 523(a)(
A recent Fifth Circuit ruling provides significant protection of a debtor’s inherent rights under the Bankruptcy Code. In Brown v.
When bankruptcy fiduciaries are appointed, one of their many duties is to identify and monetize property of the debtor’s estate. Frequently, such property may include a corporate debtor’s causes of action against its officers and directors, and related causes of action against the debtor’s professionals whose negligence may have driven the debtor into bankruptcy.
In Mexico, only business debtors, trusted estates, and legal entities that are incorporated under mercantile laws are eligible to file for bankruptcy.
