Ag “Distributor” Cannot Use PACA Trust to Jump Ahead of First-Lien Creditor, Circuit Court Rules
Buchalter, February 2021
The Sixth Circuit recently ruled that an agricultural “multi-service finance company” had no claim to the proceeds of produce held in trust pursuant to the Perishable Agricultural Commodities Act (“PACA”)[1] and could not circumvent the security interests of a senior lender...
Buchalter COVID-19 Client Alert: Congress Incentivizes Rent Deferral During COVID-19 Pandemic Through Bankruptcy Code Amendments in Stimulus Bill
Buchalter, January 2021
In the recently-passed Consolidated Appropriations Act, 2021 (the “Act”), Congress provided much-needed cover for landlords that enter into forbearance agreements with their tenants during the COVID-19 pandemic by protecting landlords from exposure to preference litigation arising out of the deferred rent payments if the tenant were to later file bankruptcy...
Buchalter COVID-19 Client Alert: Chuck E. Cheese: The Mouse Who Didn’t Get the (Rent Relief) Cheese
Buchalter, December 2020
In a small victory for landlords of bankrupt tenants, the Bankruptcy Court for the Southern District of Texas has ruled that the Chuck E. Cheese parent company may not use its bankruptcy filing to avoid paying its rent. The COVID-19 pandemic and related stay-at-home orders have prompted numerous retailers and restaurants to seek bankruptcy protection. Many of those companies successfully used the bankruptcy process to obtain relief from their rental obligations...
Additional Articles
- Buchalter COVID-19 Client Alert: PPP Application Deadline Extended to May 31, 2021
- Ag “Distributor” Cannot Use PACA Trust to Jump Ahead of First-Lien Creditor, Circuit Court Rules
- Buchalter COVID-19 Client Alert: New Treasury PPP Rules Clarify Recent Changes to PPP Program, Extend Time to Obtain a PPP Loan to March 31, 2021
- Buchalter COVID-19 Client Alert: Congress Incentivizes Rent Deferral During COVID-19 Pandemic Through Bankruptcy Code Amendments in Stimulus Bill
- Buchalter COVID-19 Client Alert: New PPP Changes in the Stimulus Bill: Second PPP Loan for Hardest-Hit Existing PPP Borrowers, Additional Categories of Forgivable Expenses, Tax Deductibility for Expenses Paid with PPP Proceeds, Lender Liability Limitations, Simplified Forgiveness Application for Loans of $150,000 or Less, and Other Changes
- Buchalter COVID-19 Client Alert: Chuck E. Cheese: The Mouse Who Didn’t Get the (Rent Relief) Cheese
- What Every Technology Company Needs to Know About Assumption, Assumption and Assignment, Or Rejection Of Its Contracts In Bankruptcy
- Insolvency: What Every Technology Company Needs to Know About Claims Against Bankrupt Customers And Business Partners
© Buchalter, 2021