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Session Description

During the Covid Pandemic, the Federal , State and Local governments make billions of dollars in loans to all sizes of business. These programs were rolled out very quickly and the potential for fraud was huge. Now as things shake out, various of the entities that provided the funds are discovering fraud, of all shapes and sizes and bringing suits to recover wrongfully made or fraudulently obtained loans. This session will discuss the various programs, the litigation that is now being pursued by the various "lending sources" and how and when Bankruptcy is being used or implicated by this litigation. This session should address loans made to all size businesses - from the mom and pop business to the multi-million or billion businesses and the various frauds that have been discovered .

Suggested Categories

Business Reorganization

Commercial Fraud

Covid19

Small Business

Learning Outcomes

Attendees will understand the various types of frauds and other issues that have arisen as a result of these "lending" programs being used improperly.
Attendees will understand the various ways in which Bankruptcy can or may be used to either pursue recovery or avoid recovery as a result of the fraud and other improper ways in which these programs were used and abused.

Target Audience

Debtor

First Name

Janet

Last Name

Baer

janet_baer@ilnb.uscourts.gov

Firm

US Bankruptcy Court, ND IL

Co-Chairs’ Corner

We are closing to books on an eventful 2023 and looking forward to a busy 2024. Between the travails of FTX and the numerous lesser frauds, the expertise of our members is in constant demand. This coming year, we plan to host webinars and committee video calls, which will resemble webinars but will be interactive. The plan for the video calls is to have short presentations on topics of interest (10 minutes maximum), followed by a group discussion. Some of our favorite classes this year were seminars rather than lectures.

The Supreme Court Expands the Fraud Exception to Discharge — Maybe

The Supreme Court may have expanded the types of debts that are exempt from discharge under § 523 of the Code. In Bartenwerfer v. Buckley [1], the Court held that § 523 bars the discharge of a debt arising from fraud committed by the debtor’s business partner. While this result appears to be both straightforward and uncontroversial, the broad language used by the Court raises the possibility of expanded objections to dischargeability under § 523.

Topics

Fraud

Commercial Fraud

Telecom/Tech

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