%1

By enacting the Small Business Reorganization Act of 2019 (SBRA), Congress sought to provide small businesses the opportunity to avail themselves of the benefits of chapter 11 reorganization under the Bankruptcy Code.^[2] As the heart of the SBRA, subchapter V aims to lower the high costs and complexities associated with chapter 11 reorganization and to streamline the confirmation process to enable small businesses to effectively reorganize under the Bankruptcy Code.^[3]

The legal and economic side effects of the COVID-19 outbreak will continue for some time across Turkey. A major area of interest for the future health of the Turkish economy is bankruptcy law. In this context, we aim to explain bankruptcy proceedings in Turkey in general and predict what will be expected in the future in the eye of Turkish insolvency law.

A consumer client comes in for a bankruptcy consultation. You can’t just look at their financial situation, you must also examine their life: who do they live with, where do they work, where does their spouse work? Perhaps one of the more difficult questions consumers face is whether they want to keep their car. Consumers need to know what their options are if they surrender their cars. Will they be able to get another one? If they can’t get approved for another car, they will have no choice but to keep their current car.

The traditional fitness industry is among the industries hit hardest by the COVID-19 pandemic. Gym and health club bankruptcies have skyrocketed since lockdowns began in March: Fitness powerhouses like Gold’s Gym,[1] 24 Hour Fitness[2] and Town Sports[3] filed for bankruptcy protection this summer, in addition to many smaller entities that have filed for bankruptcy or closed.

Economic downturns are invariably associated with an increase in bankruptcy filings, and the most recent COVID-induced recession is no exception. Even with federal interventions like the Paycheck Protection Program, business bankruptcy filings are still predicted in large numbers. In fact, since the pandemic hit the U.S. in March 2020, the number of bankruptcy filings each month has been greater than every corresponding month in 2019.

As more of us are using video conferencing platforms to conduct depositions, webinars, hearings, client meetings, and mediations, we are learning how to use these tools and how to avoid the pitfalls. Below are some general tips to make you look and sound your best:

Rough seas lie ahead for commercial tenants and landlords. With no end in sight to the COVID-19 pandemic, litigation over commercial real property leases is ramping up — especially in the restaurant and retail spaces. While the Payroll Protection Program stemmed the tide briefly, government aid is ending while lease obligations remain. Proactive steps by both sides are the best path forward, as court dockets are likely to be flooded with these cases in short order.

Since its decision in Marathon Pipeline, the Supreme Court expressed a continued fear of judicial overreach by the legislative branch through the bankruptcy courts. In the years following that decision, the specter of overreach influenced the Court’s decisions regarding the adjudicatory authority of bankruptcy courts.