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23 Mar 2020, 3:23 am
The Pacific Gas and Electric Company and the PG&E Corporation filed a motion on Friday with California bankruptcy court for a more expansive plan for reorganization to ensure that it is capable of paying its creditors in a timely fashion. [read post]
23 Mar 2020, 3:00 am
The problem is that there are several Delaware cases holding that once a company declares a dividend, it creates a debtor-creditor relationship between the company & its shareholders. [read post]
22 Mar 2020, 12:49 pm
But some employers are also facing enormous challenges and may wind up requiring creditor protection or may simply go out of business. [read post]
A guide to interpreting the Small Business Reorganization Act of 2019 without driving yourself crazy
22 Mar 2020, 9:24 am
11 USC s. 1191: Provides the rules for confirmation of the plan: it must not discriminate between members of a class, and be fair and equitable to impaired, non-consenting creditors. [read post]
21 Mar 2020, 9:59 am
So there’s not even a court available for creditors to sue you in. [read post]
21 Mar 2020, 9:33 am
In this case a business can simply notify landlords and creditors and walk away, however the key will be whether the business owner has personally guaranteed debts associated with the business. [read post]
20 Mar 2020, 5:33 pm
In this case a business can simply notify landlords and creditors and walk away, however the key will be whether the business owner has personally guaranteed debts associated with the business. [read post]
20 Mar 2020, 2:04 pm
Our law firms are ideally suited to work with other creditors in the Purdue bankruptcy to place the focus on the real victims of the epidemic. [read post]
20 Mar 2020, 1:42 pm
[7] See In re Rules Implementing the Telephone Consumer Protection Act of 1991, Declaratory Ruling, 23 FCC Rcd. 559, 564 (adopted Dec. 28, 2007; released Jan. 4, 2008) (“the provision of a cell phone number to a creditor, e.g. as part of a credit application, reasonably evidences prior express consent by the cell phone subscriber to be contacted at that number regarding the debt”); see also In re Matter of Rules and Regulations Implementing the Telephone Consumer… [read post]
20 Mar 2020, 10:57 am
NYDFS also urged creditors to work with and provide accommodations to borrowers “to the extent reasonable and prudent,” including refraining from exercising rights and remedies based on potential technical defaults under material adverse change and other contractual provisions that might be triggered by the COVID-19 pandemic. [read post]
20 Mar 2020, 10:28 am
The United States Trustee is conducting telephonic organizational meetings of creditors’ committees. [read post]
20 Mar 2020, 10:19 am
The debtor must contribute all disposable income (read: future profits) to the creditors for the duration of the plan. [read post]
20 Mar 2020, 10:13 am
Chapter 13, on the other hand, lets you keep your house and other collateral but subjects you to a 3-5 year repayment plan in which you start to pay your creditors. [read post]
20 Mar 2020, 8:28 am
The Letter also urges all regulated entities, in their capacity as creditors to businesses of all sizes, to work with and provide accommodations to their borrowers, including refraining from exercising rights and remedies based on potential technical defaults under material adverse change and other contractual provisions that might be triggered by the COVID-19 crisis. [read post]
20 Mar 2020, 2:56 am
Additionally, our team can advise clients on issues across different industries that may arise at this critical time, including: · HR and Employment · Insurance & Benefits Disputes · Business Litigation · General Corporate Issues · Cybersecurity, Data Breach, & Privacy · Family Law … [read post]
20 Mar 2020, 2:56 am
Additionally, our team can advise clients on issues across different industries that may arise at this critical time, including: · HR and Employment · Insurance & Benefits Disputes · Business Litigation · General Corporate Issues · Cybersecurity, Data Breach, & Privacy · Family Law … [read post]
19 Mar 2020, 10:35 am
The Debtors do not identify those creditors, arguing that doing so would create a “run on the bank” while eliminating any leverage the Debtors have in their negotiations with the creditors. [read post]
19 Mar 2020, 7:42 am
Meyer Njus Tanickis a law firm that represents creditors and specializes in debt collection cases. [read post]
19 Mar 2020, 6:31 am
Will stakeholders be able to react in time or will a company access the CCFF notwithstanding such restrictions, assuming existing creditors will be supportive and/or the needs of the business should prevail? [read post]
18 Mar 2020, 2:59 pm
If companies do not survive the crisis, shareholders and creditors may pursue such claims in bankruptcy courts, with the directors and officers (and ultimately, their insurance) as the only remaining viable targets. [read post]
