Educational Insights
Michigan State Court Receivership – Marijuana and Cannabis Businesses in Michigan
Michigan’s marijuana industry continues to advance. Despite the prevalence of these businesses within the State, marijuana remains illegal under Federal law. As a result, federal bankruptcy remains unavailable for entities or individuals in the cannabis industry. ...
Covid-19 Bankruptcy Extension Act Signed – Subchapter V Debt Limit Extended
On March 27, 2021, the President signed the Covid-19 Bankruptcy Relief Extension Act into law. The Act extends various provisions that will continue to provide relief to consumers and small businesses that were impacted by the pandemic. It is designed to...
Subchapter V Chapter 11 Update: Debt Limit Extension
In late February of 2021, a bipartisan bill was introduced that would extend continued relief to businesses that have been impacted by the Covid-19 pandemic. The bill is referred to as the Covid-19 Bankruptcy Relief Extension Act, is intended to continue certain...
The Student Loan Pause
Student loans and payments during the Covid-19 pandemic have taken some interesting turns from the beginning of the pandemic to currently. Currently, payments are suspended, without interest, on all federal student loans through September 2021. This is good news for...
Eligibility Deadline for Subchapter V Chapter 11 Bankruptcy
Subchapter V bankruptcy provides businesses with a more efficient and affordable process to reorganize. The Bankruptcy Code says that in order to be eligible for Subchapter V bankruptcy, an individual or business debtor must be engaged in a commercial activity with...
More Bankruptcy Law Changes – The CAA
New Bankruptcy Amendments – Changes to Chapter 11 Bankruptcy On December 27, 2020, the Consolidated Appropriation Act (“CAA”) was signed and became law. We have previously described the impact of the CAA regarding the possibility of providing PPP loans to...
New Bankruptcy Law – Changes to Bankruptcy and Chapter 13
New Bankruptcy Amendments On December 27, 2020, the Consolidated Appropriation Act (“CAA”) was signed and became law. We have previously described the impact of the CAA regarding the possibility of providing PPP loans to bankruptcy Debtors . The new law also...
Bankruptcy and Family Law: When Can You Proceed?
Domestic issues are often precursors to a bankruptcy filing for one or more of those involved. The intersection between family law and the automatic stay provisions of the Bankruptcy Code is often cloudy. The automatic stay may prevent certain matters from moving...
Subchapter V Bankruptcy – A Small Business Lifeline
Although the law has only been in place for a relatively short amount of time, businesses in West Michigan and throughout the State have begun to utilize Subchapter V Bankruptcy (Chapter 11), as a means of obtaining relief from current difficult economic...