In a Chapter 13 bankruptcy, also known as a wage earner’s plan, individual debtors may be permitted to retain their property, and develop a plan to repay a portion or all of their debts. A debtor will propose a repayment plan to make installment payments to creditors over a 36 to 60 month period.
A…
On December 27, 2020, the much-anticipated Consolidated Appropriations Act, 2021 (“CAA”) was signed into law. The CAA contains several COVID-19-related amendments to the United States Bankruptcy Code, 11 U.S.C. §§ 101, et seq. (“Bankruptcy Code”), which may impact many types of creditors. The “Bankruptcy Relief” amendments are set forth in Title X of the…
There has been no shortage of significant bankruptcy filings in 2020 as a result of the ongoing pandemic. Large companies such as J.C. Penney, Brooks Brothers, Lucky Brand, GNC, subsidiaries of Regus, and others, have all filed for bankruptcy protection, citing the coronavirus for sharply reduced sales at their brick and mortar stores.
These filings…
In October 2019, Bayou Steel BD Holdings, LLC, and its affiliated debtors (“Bayou Steel” or “Debtors”) filed for bankruptcy before the District of Delaware. By way of background, the company sought protection from creditors after a “severe lack in liquidity” led to a default on its senior secured debt. Bayou, which produces steel products like…
In the recent decision of In re MTE Holdings, LLC, et al., Case No. 19-12269 (CSS) (Del. Bankr. June 8, 2020), the Delaware Bankruptcy Court determined whether a landowner that leases mineral rights to a debtor is entitled to an administrative claim against the debtor for accessing its land and installing a tank battery. …
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