Appellate court rules that subchapter V small business debtors don’t need to be for profit businesses
By Zev Shechtman In re RS Air, LLC, __ B.R. __, 2022 WL 1288608 (B.A.P. 9th Cir. April 26, 2022) Case Synopsis In order to qualify for small business reorganization under subchapter V of […]
Bankruptcy Appellate Decision Subordinates Judgment Liens Under Section 510(b)
By Eric P. Israel and Alphamorlai “Mo” Kebeh Recently, the Bankruptcy Appellate Panel for the Ninth Circuit (the “BAP”) issued a ruling on an important issue. In Kurtin v. Ehrenberg (In re Elieff), 637 B.R. […]
Subchapter V Debt Limit Likely to Sunset at the End March
The subchapter V debt limit is likely to revert to $2,725,625 on March 28, 2022. Hope remains that Congress will soon restore it to $7.5 million. By Aaron E. de Leest, Danielle R. Gabai, […]
Recent Case Adds to Trend of Courts Allowing Bankruptcy Trustees to “Look Back” as Far as 10 Years to Avoid Transfers When the IRS is a Creditor
In the recent case of Mitchell v Zagaroli, 2020 WL 6495156 (Bankr. W.D.N.C. 2020), 2020 WL 6495156 (Bankr. W.D.N.C. 2020), the bankruptcy court ruled that a chapter 7 trustee under 11 U.S.C. § 544(b) could […]
Debtors Beware: Exemption Planning in California Now Subject to Challenge
Nearly two decades after the Ninth Circuit ruled that debtors could protect their assets from creditors by converting them to exempt status before they file for bankruptcy, the Court of Appeals for the Second […]
Ravn Alaska’s Emergence from Bankruptcy
From Float Alaska to the New Ravn—Acquiring Alaska’s Largest Regional Airline through Bankruptcy During the COVID-19 Pandemic In March of 2020, Ravn Air Group, Inc. and its seven affiliates (collectively, Ravn) comprised the largest […]
Thoughts for Small Businesses Considering Bankruptcy
For an operating business, the bankruptcy process can be time-consuming, invasive, difficult to maneuver, and expensive. You need someone who can explain all of the options, and prepare you for what’s to come. Rule […]
How the CARES Act Has Impacted Bankruptcy Cases
Earlier this year, we wrote about the Small Business Reorganization Act of 2019 (the “SBRA”), which went into effect on February 22, 2020. For a quick recap on the SBRA, click here for our […]
Wait, What? Bankruptcy Filings Have Gone Down in 2020
The CARES Act, unemployment benefits, and hope that things will reopen soon seem to have buoyed many businesses for the last four-plus months. Landlords also have been flexible, though county and city moratoria on […]