BANKRUPTCY AND INSOLVENCY NEWS AND ANALYSIS – WEEK ENDING JUNE 19, 2020

Trends and Legislative Developments

U.S. Bankruptcy Surge Is Worst Since the Great Financial Crisis

Before the bankruptcy storm

A tidal wave of bankruptcies is coming

“This Is Just The Start”: US Bankruptcies Soar 48% In May, Most Since Financial Crisis

Marathon’s Richards Sees Bankruptcies in the U.S. Rising Fourfold

Table F-2—U.S. Bankruptcy Courts Federal Judicial Caseload Statistics (March 31, 2020)

Out-of-Court Workouts

How To Secure Credit During A Financial Crisis

Beware the Post-COVID Revenge of the Mezz Lender

A Faster, Cheaper, More Efficient Way To Restructure

Small-business owners considering bankruptcy may be shocked to learn they could lose their homes

Receiverships

Federal Receiverships Are Often Overlooked Yet Can Be Attractive to Creditors

Executory Contracts

Force Majeure and Impossibility in the Era of COVID-19, New Court Decisions and an Emerging Bankruptcy Trend

In re Hitz: Bankruptcy Case Shows Why Force Majeure should be De Rigueur in the Age of Coronavirus

Bankruptcy Court Guidance on Force Majeure Clauses

Secured Claims

Employing Narrow Reading of Section 506(d), Ninth Circuit Holds That the Basis for Disallowance of a Claim Must be Considered Before Lien Can be Avoided

Ninth Circuit Affirms that Liens Pass Through Bankruptcy Even if Underlying Claim is Disallowed

Unsecured Claims

How Claims Buyers Can Protect Themselves – The Firestar Decision

Avoidance and Recovery

Preference Payments in Bankruptcy: Rebutting the Presumption of Insolvency during the COVID-19 Pandemic

Are Critical Vendors Insulated from Preference Actions?

Cross-Border

Implementing Strategies for the Model Law on Cross-Border Insolvency: The Divergence in Asia-Pacific and Lessons for UNCITRAL

Digicel: US bankruptcy filing won’t impact operations