(Updated March 11, 2021) President Joseph R. Biden signed the American Rescue Plan Act of 2021 on March 11, which provides $1.9 trillion in relief funds across a broad spectrum of categories, including additional support for vaccine distribution, school reopenings, small business grants, tax credits, pension funds, unemployment support, healthRead More →
M&A and bankruptcy lawyers The majority of M&A and bankruptcy professionals are aware of the increased utilization of leveraged buyouts (“LBOs”) through public companies as well as private equity companies in conjunction with the debt buyout process. Highly organized liquidation or restructuring both within BKHQ – file bankruptcy and outside bankruptcy. TheRead More →
Howard Marks put it well when he said that, rather than worrying about stock price volatility, “the possibility of permanent loss is the risk I worry about … and every investor practice that I know is worried. When we think about how risky a business is, we always like toRead More →
ireland AerCap Holdings SA (NYSE: ARE) acquired GE Capital Aviation Services, a General Electric (NYSE: GE), in a transaction involving $ 24 billion in cash, $ 1 billion in AerCap notes and / or cash and 1.1 billion newly issued AerCap shares. What happened: AerCap is an aircraft leasing companyRead More →
David Iben put it well when he said: “Volatility is not a risk we care about. What matters to us is to avoid the permanent loss of capital. ‘ It is only natural to consider a company’s balance sheet when considering how risky it is, as debt is often involvedRead More →
We are now approaching a full year of life with the COVID-19 outbreak in the United States, and it has become clear that high quality phone and internet service is a necessity for all of us to continue to have some semblance of it. normal life. People across the countryRead More →
Warren Buffett said: “Volatility is far from synonymous with risk”. So it seems like smart money knows that debt – which is usually involved in bankruptcies – is a very important factor, when you assess the level of risk of a business. We can see that Select Interior Concepts, Inc.Read More →
Just after 5:00 p.m. Central time on February 23, 2021, Belk, Inc. and its affiliates filed Chapter 11 petitions with the U.S. Bankruptcy Court for the Southern District of Texas, along with a draft of a “prepared” reorganization plan. Before midnight, the US trustee opposed Belk’s plan, and by 8Read More →
WACO, Texas (KXAN) – As the Texans struggled through the worst winter storm to hit the power grid in the early morning hours of February 15, the people overseeing that grid were working on plans to save it. This plan ultimately led to the Texas Electrical Reliability Council and theRead More →
“If they were worried that we wouldn’t ship to them, they should have prepaid for the product,” said Janie Velencia, owner of The Cards Office in Washington, DC “$ 15,000 for them is nothing. For a small business like me, it’s payroll, it’s rent. Paper Source ordered more from TheRead More →
The Aspen Club & Spa’s new property last week paid off more than $ 30 million in debt and interest owed to creditors and construction companies for work and materials related to the expansion and renovation of the property on the east side of town. “It was part of ourRead More →
Breadcrumb Links Opinion Local company Chroniclers The longer the pandemic lasts, the more local entrepreneurs will – unfortunately – demand reliable resources on how to file bankruptcy on the shutdown. They should be able to get this information from the same organizations that helped them get started. Author of theRead More →
In 2020, Chapter 11 commercial bankruptcy filings hit their highest levels in recent years, as the COVID-19 disruption triggered a sharp drop in GDP and volatile swings in stock markets. In particular, the pandemic accelerated the restructuring of some companies that were already on the brink of financial collapse, particularlyRead More →
On February 25, 2021, U.S. Senators Dick Durbin and Chuck Grassley presented the COVID-19 Bankruptcy Relief Extension Act extend how to file bankruptcy relief provisions promulgated under the law of March 2020 CARES Law and the omnibus appropriation bill of December 2020. This bipartite legislation would extend for an additionalRead More →
The southern retail giant has battled debt and the effects of COVID-19 on its business. CHARLOTTE, NC – North Carolina-based department store chain Belk has announced that it will file for Chapter 11 bankruptcy, although the company plans to remain open throughout the process. Sycamore Partners, the private equity firmRead More →
(Reuters) – J. Crew Group Inc filed for bankruptcy on Monday with a plan to cede control to lenders, adding to a list of physical retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic. The New York-based chain, known for its preppy clothes sometimesRead More →
Late on the evening of February 23, 2021, department store chain Belk Inc. and 17 affiliates filed prepackaged bankruptcy cases in U.S. South District Bankruptcy Court. In addition to filing motions on day one, Belk also filed his disclosure statement and reorganization plan, which had already been solicited and acceptedRead More →
LAS VEGAS (KLAS) – A data breach that exposed the personal information of 345,447 Nevadans – and more than 7 million nationwide – has led to a settlement with a debt collection company. Nevada Attorney General Aaron D. Ford announced Thursday that the Retrieval-Masters Creditors Bureau d / b /Read More →
AAfrican airlines are on the verge on how to file bankruptcy if their liquidity crisis is not urgently resolved, according to a new survey. The investigation by the Economic Commission for Africa (ECA) and the African Airlines Association (AFRAA) reveals that indeed, a number of airlines around the world areRead More →