August 03, 2020
Judge Romero Explains Why Lenders Can’t Claw Back Retainers Paid by Debtors
The UCC protects retainers in the hands of lawyers from secured lenders bent on glomming their collateral.
10th Circuit, ColoradoJuly 28, 2020
The 2005 Amendments to Section 546(c) Limited the Remedies of Reclamation Creditors
Reclamation creditors no longer have liens or administrative claims if a secured lender sucks up all the value in reclaimed goods.
8th Circuit, NebraskaJune 24, 2020
Fifth Circuit Bars Debtors from Receiving ‘PPP’ Loans Under the CARES Act
In a rapid-fire appeal, the Fifth Circuit ruled that the Small Business Act bars bankruptcy courts from enjoining the SBA.
5th CircuitJune 17, 2020
Debtors and the SBA Fight to a Draw Last Week on PPP ‘Loans’
Courts still have no consensus about debtors’ right to receive PPP ‘loans’ under the Cares Act.
11th Circuit, Florida, Florida Northern DistrictJune 10, 2020
Last Week, the Government Went 2 for 3 in Defeating Debtor’s Demands for PPP Loans
Courts are divided on whether PPP litigation is ‘core’ or not.
1st Circuit, MaineMay 27, 2020
Farmers in Chapter 12 Don’t Qualify for PPP ‘Loans,’ Milwaukee Judge Rules
A PPP ‘loan’ under the Cares Act isn’t a ‘grant,’ thus the government isn’t barred from discriminating against a bankrupt under Section 525(a).
7th Circuit, Wisconsin, Wisconsin Eastern DistrictMay 05, 2020
Two More Judges Rule that Chapter 11 Debtors Are Eligible for PPP Loans
Judge Thuma of Albuquerque threatens the SBA with punitive damages if the debtor is not granted a $900,000 PPP loan.
10th Circuit, New MexicoMay 01, 2020
Houston Judge Enjoins SBA from Excluding Bankrupt Companies from PPP Loans
Judge David Jones found no basis in the Cares Act for precluding chapter 11 debtors from receiving PPP “loans” that the company isn’t required to repay.
5th Circuit, Texas, Texas Southern DistrictApril 28, 2020
Two-Year Statute for Avoidance Actions Doesn’t Apply to Claim Objections
Even if the two-year statute of limitations for avoidance actions has run, the trustee can still strip away the lender’s secured status in a claim objection.
11th Circuit, Georgia, Georgia Northern DistrictApril 17, 2020
Cashier’s Checks and Ordinary Checks Are Treated the Same Under Barnhill
The UCC and Barnhill are in accord when it comes to ownership of funds underlying an unpaid check.
10th Circuit, Oklahoma, Oklahoma Western District