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 […]
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 […]
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 […]
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 […]