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ABI Journal

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, Colorado

July 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, Nebraska

June 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 Circuit

June 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 District

June 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, Maine

May 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 District

May 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 Mexico

May 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 District

April 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 District

April 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