On August 23, four new bankruptcy bills were signed into law by President Trump. First, the Small Business Reorganization Act of 2019,...
Four new bankruptcy bills signed into law in August 2019
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Industry News
Blink-182, Kendall Jenner, and Others Sued By Fyre Festival Bankruptcy Trustee
It’s been two years since the famous fiasco known as Fyre Festival lured thousands of people to the Bahamas with the promise of a stacked...
In the Fourth Circuit lawsuit not precluded by debtor’s failure to disclose claim
U.S. Circuit Court Judge Pamela Harris wrote for a unanimous panel in Martineau v. Wier et al., and found that the district court erred by...
Subscription box service Loot Crate files Chapter 11 bankruptcy
In the online shopping world, subscription box services have exploded in popularity selling everything from personalized toys and treats...
U.S. coal company files for bankruptcy
Cloud Peak Energy, one of the United States’ coal giants, filed for Chapter 11 bankruptcy after quarterly financial filings revealed major...
Celebrity Chef Jamie Oliver’s UK restaurants declare bankruptcy
Twenty-two of Oliver's twenty-five restaurants will close and roughly 1,000 employees will lose their jobs years after the restaurant...
Lack of a third petitioning creditor leads First Circuit to reject “special circumstances” exception
The First Circuit Court of Appeals panel affirmed the decision of the U.S. Bankruptcy Court for the District of Puerto Rico to dismiss an...
Supreme Court hears arguments on post-bankruptcy debt collection penalties
On April 24, 2019, the Supreme Court heard arguments on whether creditors may be penalized for their good faith attempts to collect...
Supreme Court holds other party retains its rights when debtor “rejects” contract in bankruptcy
On May 20, 2019, the Supreme Court held that a debtor’s rejection of an executory contract under Section 365 of the Bankruptcy Code has...
Oregon woman cannot use bankruptcy because of federal marijuana ban according to Justice Department
The US Justice Department said that a woman who works for a staffing agency that recruits employees for the marijuana industry cannot use...
Borrowers’ lawsuit not barred by tribal sovereign immunity
In Gingras v. Think Finance, Inc., 2019 WL 1780951 (C.A.2-Vt.), borrowers in Vermont accused individuals and businesses owned by a Native...
Southern District of New York finds “safe harbor” defense to fraudulent transfers protects payments to shareholders in securities transactions
In In re Tribune Company Fraudulent Conveyance Litigation, No. 11md2296 (S.D.N.Y. Apr. 23, 2019), the U.S. District Court for the Southern...
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