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Articles by Marc Swanson
Congress Passes Law to Raise Subchapter V and Chapter 13 Debt Limits | JD Supra
The debt limit for subchapter V of chapter 11 has had a wild ride. Fortunately, it appears that the days of fluctuating debt limits are behind us, with the Senate's unanimous passage of H.R. 7730. The bill now heads to the President, who is expected to sign it into law. Subchapter V debuted effective February 19, 2020, and is designed to meet the needs of small businesses for whom a "standard" chapter 11 bankruptcy case is often too expensive and unwieldy.
Opinion: I’m voting to retain ranked choice voting and you should, too
Voters arrive to cast a ballot at a polling station setup in the Region II Elections Office on Tuesday, Nov. 1, 2022, in Anchorage. (Spencer Platt/Getty Images/TNS) This November, I will be voting no on Ballot Measure 2, and this is why. Sixty-three percent of Alaskans are not registered as Republicans or Democrats. We’re independent. It is ingrained in our lifestyle and values. Yet in a conventional primary, we end up with two candidates, one from each party, crammed down our throats.
Michigan Supreme Court Confirms: No Independent Cause of Action for Breach of Implied Covenant of Good Faith | JD Supra
Sometimes an expected result is still newsworthy. On March 27, 2025, in Kircher v Boyne USA, Inc., the Michigan Supreme Court held that there is no independent cause of action for breach of the implied covenant of good faith and fair dealing inherent in contracts. This is no surprise; lower state courts and federal courts interpreting Michigan law had consistently reached the same conclusion.
Cross-Border Catch-Up: Compliance With Puerto Rico Meal Break Requirements [Podcast]
Skip to main content April 04, 2025 Volume XV, Number 94 Legal Analysis. Expertly Written. Quickly Found.
Supreme Court Rules That Section 363(m) Protections for a Bankruptcy Sale Are Not Jurisdictional | JD Supra
On April 19, 2023, the Supreme Court issued its opinion in MOAC Mall Holdings, LLC v. Transform Holdco, LLC. The decision has implications for sales of property in bankruptcy cases. Section 363(m) of the Bankruptcy Code protects people who buy or lease property from a bankruptcy estate. The section states that a sale or lease of estate property approved by a bankruptcy court remains valid even if the bankruptcy court’s approval is later reversed or modified on appeal.
Innocence Is No Defense: Debt Obtained by Fraud Is Nondischargable | JD Supra
A debt “for money, property, services, or an extension [. . .] of credit, to the extent obtained by [. . .] actual fraud,” is not dischargeable in a chapter 7 bankruptcy case.[1] Courts have questioned whether this applied if the debtor did not commit the fraud or even have knowledge of it. On February 22, the Supreme Court in Bartenwerfer v. Buckley, No. 21-908, 2023 WL 2144417 (U.S. Feb. 22, 2023), resolved that question, holding that a debtor’s knowledge of the fraud is not relevant.
Michigan Bankruptcy Exemptions Set to Rise Significantly on March 1 | JD Supra
As we reported last year, every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The federal dollar amounts last were increased on April 1, 2022, and are not slated for another increase until April 2025. Michigan bankruptcy exemptions also increase every three years to adjust for inflation, and on March 1, 2023, they will increase by 14%. (For reference, the increase three years ago was approximately 6%).
Celsius Cryptocurrency Woes - Bad News for Those Whose Cryptocurrency Is Trapped in the Estate, Could Be Worse for Those Who Think They've Escaped | JD Supra
On January 4, 2023, the judge in the Celsius Network bankruptcy case[1] ruled that Celsius users who had deposited cryptocurrency in Celsius’s “Earn Accounts” had transferred ownership of their cryptocurrency to Celsius. These users had deposited their cryptocurrency in the hopes of earning a high rate of interest. Unfortunately, Celsius’s terms and conditions came with a “catch”—while the cryptocurrency was in the Earn Account, it belonged to Celsius.
Sunset of Certain Bankruptcy Code Changes | JD Supra
As we previously reported, the Bankruptcy Code saw many changes in 2020 and 2021. Some of the changes that were enacted under the Consolidated Appropriations Act, 2021 ("CAA") will soon end. Prior to the CAA, the Bankruptcy Code allowed a bankruptcy court to give a debtor extra time (up to 60 days from commencement of the bankruptcy case) to pay rent due for the first 60 days of the bankruptcy case.
Eleventh Circuit Bolsters Preference Defense by Holding That 503(b)(9) Claims Do Not Reduce the Subsequent New Value Defense | JD Supra
Preference defense received an important boost this week when the Eleventh Circuit decided that invoices paid under 11 U.S.C. § 503(b)(9) can count as "new value" in defending against preference claims. It is the first circuit court to consider the question, making its decision in favor of creditors' rights that much more significant. A brief review of two key points helps put the opinion in perspective. First, in 2005, section 503(b)(9) was added to the Bankruptcy Code.
Eleventh Circuit Bolsters Preference Defense By Holding That 503(b)(9) Claims Do Not Reduce The Subsequent New Value Defense
Preference defense received an important boost this week when the Eleventh Circuit decided that invoices paid under 11 U.S.C. § 503(b)(9) can count as "new value" in defending against preference claims. It is the first circuit court to consider the question, making its decision in favor of creditors' rights that much more significant. A brief review of two key points helps put the opinion in perspective. First, in 2005, section 503(b)(9) was added to the Bankruptcy Code.
Passage Of Bankruptcy Threshold Adjustment And Technical Corrections Act
Congress has made some small but important changes to the Bankruptcy Code through its enactment of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the "Act") on June 21, 2022. The most important of these are the increases in the debt limits for debtors under chapter 13 and under the Small Business Reorganization Act (the "SBRA")—increases that will continue for at least two years.
Passage of Bankruptcy Threshold Adjustment and Technical Corrections Act | JD Supra
Congress has made some small but important changes to the Bankruptcy Code through its enactment of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the "Act") on June 21, 2022. The most important of these are the increases in the debt limits for debtors under chapter 13 and under the Small Business Reorganization Act (the “SBRA”)—increases that will continue for at least two years.
Passage of Bankruptcy Threshold Adjustment and Technical Corrections Act
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Bankruptcy Dollar Amounts Set to Rise April 1, 2022, by a Significant Amount | JD Supra
Every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The April 1, 2022, increase will be nearly 11%, far greater than the approximately 6.2% increase three years ago. Bankruptcy Code section 104 requires the Judicial Conference of the United States to publish the changes at least a month before they take effect. On February 4, 2022, the Judicial Conference published this year's increase in the Federal Register.
Not All Student Loans Are Created Equal - Some May Be Dischargeable in Bankruptcy | JD Supra
On July 15, 2021, in the Homaidan[1] opinion, the Second Circuit joined the Fifth[2] and Tenth[3] Circuits in deciding that certain student loans are dischargeable in bankruptcy. These three opinions are very important for the student loan industry but may not be as momentous as they seem on the surface, as they do not purport to render all student loans potentially dischargeable.
Not All Student Loans Are Created Equal - Some May Be Dischargeable in Bankruptcy
On July 15, 2021, in the Homaidan[1] opinion, the Second Circuit joined the Fifth[2] and Tenth[3] Circuits in deciding that certain student loans are dischargeable in bankruptcy. These three opinions are very important for the student loan industry but may not be as momentous as they seem on the surface, as they do not purport to render all student loans potentially dischargeable.
The Impact of the Bankruptcy Relief Act and Other Recent Bankruptcy Code Changes | JD Supra
Bankruptcy law has seen many changes in 2020 and 2021. Some of these were enacted in response to COVID, but many other changes were included in the Bankruptcy Code before the pandemic. This article highlights some of these changes and their impact on the rights of lenders, trade creditors, suppliers, landlords, tenants, and debtors.
The Impact of the Bankruptcy Relief Act and Other Recent Bankruptcy Code Changes | Lexology
Bankruptcy law has seen many changes in 2020 and 2021. Some of these were enacted in response to COVID, but many other changes were included in the Bankruptcy Code before the pandemic. This article highlights some of these changes and their impact on the rights of lenders, trade creditors, suppliers, landlords, tenants, and debtors.
Eleventh Circuit Joins Fifth in Holding that the SBA May Deny Paycheck Protection Program Loans to Debtors in Bankruptcy | JD Supra
In June of 2020, Miller Canfield reported that the Fifth Circuit held that a Texas bankruptcy court had exceeded its authority when it ordered the SBA Administrator to make a Paycheck Protection Program (PPP) loan available to a debtor in bankruptcy. We added at the time that "whether other circuits follow the Fifth's lead remains to be seen." Now, the Eleventh Circuit has agreed with the Fifth, issuing a comprehensive opinion to explain its reasoning.
To Reclaim or Not to Reclaim, That Is the Question | JD Supra
With many bankruptcy cases looming on the horizon as a result of the pandemic and the measures taken to contain it, prudent creditors are reacquainting themselves with their rights, including the right of reclamation. Reclamation is codified in section 2-702(2) of the Uniform Commercial Code, and allows a seller who discovers that the buyer is insolvent to reclaim the goods upon demand within 10 days after delivery.
Letter: Lincoln’s party
It was known as the Party of Lincoln. The Grand Old Party. It was the party of my father. It was founded upon conservative ideas of fiscal responsibility and a set of values that I supposed appealed to my dad. It was a party that, while supporting businesses, also strived to provide a platform for those less fortunate. It was the party that supported states rights over federal overreach. It was the party of the Civil Rights Act of 1957. Of the Marine Mammal Protection Act of 1972.
Bankruptcy Rulings: Debtors Do Not Have to Be Currently Engaged in Business and Commercial Activities to Qualify for SBRA Relief | JD Supra
The recently enacted Small Business Reorganization Act ("SBRA") is available to help "small business debtors" with debts of no more than $2,725,625 (temporarily increased to $7,500,000 for one year by the CARES Act).
Fifth Circuit Holds that SBA May Deny Paycheck Protection Program Loans to Debtors in Bankruptcy | JD Supra
The Fifth Circuit has waded into the debate on whether the SBA must make Paycheck Protection Program ("PPP") loans available to debtors in bankruptcy, clearly answering "No." The PPP, a central component of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), allows eligible small businesses to obtain guaranteed loans to pay certain expenses, such as payroll costs, rent, and utilities.
CARES Act: Bankruptcy Provisions | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Recent and Upcoming Changes to Bankruptcy Law That Affect Your Rights as a Creditor | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
A Hard Choice Ahead For Sears Ch. 11 Creditors
Law360 (October 24, 2019, 4:20 PM EDT) -- On Oct. 8, after two days of hearings, the judge overseeing the Sears Holdings Corp. bankruptcy cases[1] orally confirmed their joint plan even though he acknowledged that the Sears estates currently do not have enough money to fund it. How does Sears expect to fund its plan and pay its suppliers?
Supreme Court Holds Trademark Licenses Survive Bankruptcy | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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