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Nine Bankruptcy Code amendments included in latest appropriations bill

David Warfield David Farrell December 28, 2020
money_gavel_650x510

On December 27, the Consolidated Appropriation Act was signed into law. In addition to funding the federal government in 2021 and providing COVID-related relief to individuals and businesses, the new law amends the Bankruptcy Code in at least nine respects. A brief description of the amendments is included in this article. READ MORE

The Federal Priority Act: How ‘secure’ is a secured creditor if the debtor is subject to a federal claim or investigation?

Claire Schenk October 10, 2018
two arms carving up piles of money - one is Uncle Sam

Under the Federal Priority Act, the government gets paid first if it has an outstanding claim when businesses or individuals become insolvent. But a review of relevant case law suggests that creditors who hold a prior perfected interest in a debtor’s real or personal property may still have a fighting chance in an ensuing priority battle. READ MORE