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Brace for Impact: Cal Supreme Court holds that the “Community Property Presumption” trumps the “Form of Title Presumption”

In November 2018 we wrote about In re Brace, in which the Ninth Circuit Court of Appeals asked the California Supreme Court to decide whether the “form of title presumption” trumps the “community property presumption” when spouses take title to real property as joint tenants.  To read our prior post, please click HERE. On July 23, 2020, in a very thorough decision that will have a big impact on family, bankruptcy, and debtor-creditor law, the...

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Telephonic 341(a) Hearings—A Brief Primer

By Brad D. Krasnoff, Esq. Chapter 7 Panel Trustee, Central District of California As you may know, due to the COVID-19 pandemic, all section 341(a) hearings conducted by panel chapter 7 trustees are being done telephonically. At this writing, these telephonic hearings will be conducted (at least locally, and likely nationwide) through early September 2020. This protocol, which was initiated in late March 2020, has impacted significantly the manner in which these hearings are conducted....

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Case Analysis: Pier 1 Imports Pandemic Rent Deferral; Equity; “Forum Shopping”; and the Dissolution of a Mega Retailer

In re Pier 1 Imports, Inc., No. 20-30805-KRH, 2020 WL 2374539 (Bankr. E.D. Va. May 10, 2020) The bankruptcy court in the chapter 11 cases of furniture retailer Pier 1 Imports and affiliates granted the debtors’ motion to defer paying some of their rent payments.  On first blush, this ruling may seem inconsistent with the requirement that debtors stay current on their post-bankruptcy filing rent obligations. In reaching its decision, the court took stock of...

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The Small Business Reorganization Act of 2019 (SBRA)

Effective February 22, 2020 In 2019, Congress amended the United States Bankruptcy Code by enacting the Small Business Reorganization Act (the SBRA). One of the most important features of the SBRA is the creation of a new bankruptcy option for small businesses, Subchapter V of chapter 11 of the Bankruptcy Code.  Subchapter V is designed to streamline the chapter 11 process and remove some of the challenges for small businesses seeking to reorganize through bankruptcy....

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Nationwide Bankruptcy Courts Allow Amendment of Petitions to Streamlined Reorganization under Subchapter V of Chapter 11

Courts throughout the country are broadly permitting amendment of bankruptcy petitions filed prior to the effective date of the Small Business Reorganization Act (“SBRA”) to Subchapter V of Chapter 11. Here is a discussion of four cases reaching this conclusion. In re Progressive Sols., Inc., No. 8:18-bk-14277-SC, 2020 WL 975464 (Bankr. C.D. Cal. Feb. 21, 2020). Debtor may amend its petition in a case filed prior to enactment of SBRA.  The debtor sought authority to...

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