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A little over one year ago, just as the country was heading into a period of unprecedented turbulence caused by the COVID-19 pandemic, the Small Business Reorganization Act (SBRA) went into effect on February 19, 2020. Before SBRA, struggling businesses considering bankruptcy had two options: Chapter 7 or Chapter 11. SBRA provides an additional option to businesses seeking to reorganize by adding Subchapter V to the Bankruptcy Code, which affords small business debtors the option of pursuing [...]

The New York Court of Appeals recently handed down an important opinion on out of court restructurings involving bond debt. In CNH Diversified Opportunities Master Account, L.P., v. Cleveland Unlimited, Inc., the Court of Appeals, in a 4–3 ruling, diverged from the Second Circuit's ruling a few years ago in Marblegate  Asset Mgt., LLC v Education Mgt. Fin. Corp. and resuscitated rights of minority bondholders under the Trust Indenture Act which were limited under Marblegate. The CNH decision, by making it easier [...]

There has been no shortage of significant bankruptcy filings in 2020 as a result of the ongoing pandemic. Large companies such as J.C. Penney, Brooks Brothers, Lucky Brand, GNC, subsidiaries of Regus, and others, have all filed for bankruptcy protection, citing the coronavirus for sharply reduced sales at their brick and mortar stores. These filings and others have had strong implications for commercial landlords across the country. Accordingly, this article provides a much needed "Top [...]