Bankruptcy Code Changes Under the 2021 Consolidated Appropriations Act

Rent Holidays, Preferences, Cure Obligations, Bifurcated Standards, Administrative Expenses, Mortgages, and More

A live 90-minute CLE video webinar with interactive Q&A


Wednesday, April 7, 2021

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, March 19, 2021

or call 1-800-926-7926

This CLE webinar will guide counsel through the amendments to the Bankruptcy Code included in the 2021 Consolidated Appropriations Act (the Act) and the questions they raise but do not answer for large and small cases. The panel will assist counsel in asking the right questions and identifying the relevant issues when dealing with these significant amendments.

Description

On Dec. 27, 2020, the Act was signed into law. The Act amends Bankruptcy Code provisions governing post-petition financing, a debtor's obligations related to performance and assumption of leases of non-residential real property, property of the estate, preference actions, and more.

None of these amendments is siloed. Each one affects more than just the specific provision in question, and wise bankruptcy practitioners know to constantly be alert for unforeseen ramifications that may not have occurred to the law's drafters. Counsel must also understand that deferrals and delays do not make obligations disappear

The amendments are also notable for failing to extend the March 27, 2021 expiration date for the increased debt limit (from $2.725MM to $7.5MM) for small business debtors seeking to reorganize under subchapter V.

Listen as this experienced panel explores the amendments, their expiration dates, and opportunities and challenges for different stakeholder groups, as well as what questions each should be asking about how the law will work.

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Outline

  1. Provisions modified
    1. Section 364
    2. Section 365
    3. Section 366
    4. Section 525
    5. Section 541
    6. Section 547
  2. Effects on landlords and tenants, licensors and licensees
  3. Impact on mortgage servicers
  4. Effect on loan reporting
  5. Priority issues
  6. Best strategies for debtors and creditors

Benefits

The panel will review these and other significant issues:

  • How can debtor tenants take advantage of the additional time limits to assume leases?
  • How do the amendments impact existing case law on the availability of rent deferrals under section 365?
  • Do the amendments impact a landlord’s entitlement to adequate protection from the beginning of the case?
  • How will cure obligations be addressed?
  • Will the amendments impact priority disputes in non-consensual Subchapter V cases?

Faculty

Akuffo, Kwame
Kwame O. Akuffo

Attorney
Pillsbury Winthrop Shaw Pittman

Mr. Akuffo’s practice focuses on a variety of corporate restructuring matters, including representation of...  |  Read More

Fitzmaurice, Patrick
Patrick E. Fitzmaurice

Partner
Pillsbury Winthrop Shaw Pittman

Mr. Fitzmaurice's practice focuses on representing lenders and other creditors in workouts, restructurings,...  |  Read More

Potter, Patrick
Patrick J. Potter

Partner
Pillsbury Winthrop Shaw Pittman

Mr. Potter's practice involves counseling and representing clients on financially distressed commercial real estate...  |  Read More

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