Government Stimulus Has Held Off Bankruptcies – For Now

Daily Journal

July 28, 2020

Danning Gill Partner John Tedford was quoted in a July 28, 2020 article in the Daily Journal about trends in bankruptcy filings in the United States and California.

According to recent U.S. Bankruptcy Court statistics, overall, bankruptcy filings are down nationally and in California, as the worst may be yet to come.

‘It’s not a big surprise, what is a surprise is we haven’t seen a boom over the last couple of months in bankruptcy filings despite all the relatively bad news, “ says Tedford, who handles bankruptcies for businesses on the debtor and creditor side. He said the court is on pace to have the same number of Chapter 11 cases filed this year as in each of the last five years.

To read the full article, click on the link below (subscription required).

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Danning Gill Partners Participate in LABJ Bankruptcy & Restructuring Roundtable

Los Angeles Business Journal

July 27, 2020

Danning Gill Partners John N. Tedford IV and Uzzi O. Raanan participated in a Bankruptcy & Restructuring Roundtable with the Los Angeles Business Journal for its July 27, 2020 issue. The attorneys discussed the significant economic damages to businesses due to the COVID-19 pandemic, when it’s a good time for a business to file for bankruptcy as well as what are some bankruptcy pitfalls that businesses should avoid.

To read the full interview, click on the link below.

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Danning Gill News Quotes: Will Coronavirus Create a Debt Crisis for Movie Theaters?

As coronavirus cases rise in the United States, cinemas around the country are finding their plans for reopening in jeopardy, and that’s putting a greater strain on an economic sector that’s been hard hit by the public health crisis and was already facing challenges of evolving technology. Danning Gill Partner Zev Shechtman spoke with Variety about how entertainment businesses may be considering their options, including bankruptcy.

To read the full article, click here.

Danning Gill News Quotes: Virus Aid Continues to Elude Bankrupt Companies as Deadline Hits

Bloomberg Law

June 30, 2020

Danning Gill Partner Zev Shechtman spoke with Bloomberg Law about the legal fight over bankrupt companies’ eligibility to apply for the government’s coronavirus relief funds.

Companies have until midnight June 30, 2020 to apply for the loans made available by the Paycheck Protection Program, administered by the Small Business Administration to help businesses manage payrolls amid the economic turmoil caused by Covid-19.

The SBA blocks bankrupt companies from applying for the loans, a rule that has triggered lawsuits. Courts are conflicted on whether the SBA rule is legal.

“I don’t think I’ve ever seen so many cases on one issue in such a short amount of time with such divergent results,” said Shechtman.

Despite the litigation, the SBA’s policy is still a barrier for businesses without the resources to challenge a government agency in court, attorneys say.

At least one bankrupt business didn’t apply for the PPP, concerned that it “would be a fight and just a waste of time,” Shechtman said.

To read the full article, click here.

On May 4, Uzzi Raanan was elected to be a member of the board of directors of the Los Angeles Bankruptcy Forum (LABF)

On May 4, Uzzi Raanan was elected to the board of directors of the Los Angeles Bankruptcy Forum (LABF).  The LABF is one of the leading bankruptcy and insolvency professional organizations in the region, where lawyers, judges, accountants, and other bankruptcy professionals meet to share insights and learn about new developments in the field.  The firm has a long history of involvement in the LABF, with Richard Diamond, John Tedford, and Zev Shechtman as past or current officers of the organization.  As a longtime member of the LABF and contributor to its programming, Uzzi is a welcome addition to its leadership.  Congratulations Uzzi!

Danning Gill partner John N. Tedford, IV, selected as a Lawyer Representative to the Ninth Circuit Judicial Conference

Partner John N. Tedford, IV, was selected to serve a 3-year term as a Lawyer Representative to the Ninth Circuit Judicial Conference.  Lawyer Representatives attend and participate in the Ninth Circuit’s annual judicial conference and other judicial conferences throughout the year, working with federal judges to improve the judicial system and the administration of justice throughout the western United States.

Danning Gill Partner Appointed to the Board of Representatives for The California Lawyers Association (CLA)

Danning Gill is proud to announce that partner Uzzi O. Raanan was recently elected to serve as the Business Law Section’s (BLS) representative to the 17-member CLA Board of Representatives. With approximately 100,000 members, the CLA is the second-largest voluntary bar association in the United States. Uzzi will join the CLA Board immediately following the organization’s October 10-12, 2019 Annual Meeting, to be held in Monterey, California. Uzzi is the immediate past Chair of the 7,600-member BLS, and a prior co-Chair of the Section’s Insolvency Law Committee (ILC), where he also served as Editor-in-Chief of the well-regarded ILC eBulletin.

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