Prior to the COVID-19 pandemic, the Bankruptcy Code generally has been interpreted to require debtors to pay rent obligations on time under unassumed real property leases as those obligations arose post-filing and pre-rejection. This result was driven by 11 U.S.C. § 365(d)(3), which requires the debtor to “timely perform” all obligations until the lease is assumed or rejected, with one narrow exception.
As financial distress grows due to the pandemic, charitable organizations are faced with two immovable forces–increased demand from hard hit communities and decreased funding due to both the economic hardships facing many donors and the cancellation of most live fundraising events.
The most important part of the process is assessing the alternative methods to wind down a business, choosing the right approach and executing on the plan.
- When High Times Get Low: Preparing for Minnesota’s Inevitable Cannabis Receivership Wave
- Eighth Circuit Holds Avoidance Actions May Be Sold Under § 363
- Confirmation of First Known Sub V Prepack
- A Quintet of Recent Major Court Decisions in Mass Tort Cases and a Scholarly Defense of Third-Party Releases and Two-Step Bankruptcies as a Matter of Public Policy
- Recent Trends in Subchapter V
- Subchapter V Bankruptcy Reorganization: Strategies and Uses
- Must a Liquidating Trustee Pay U.S. Trustee Fees Post-Confirmation?
- Practical Advice for Addressing Guarantees in Bankruptcy
- Preparing for Doomsday: A Primer for Creditors to Protect their Rights Against the Demise of Cryptocurrency