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Force Majeure Contract Clauses and COVID-19

May 25, 2021

Force Majeure Contract Clauses and COVID-19 A “force majeure” is a contract clause that excuses the performance required of a party by the contract because unforeseen circumstances outside the party’s control have rendered that performance impracticable or impossible.  A “force majeure” is sometimes also called an “Act of God.”  Over the past year, in light…

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Federal Stimulus Package Bankruptcy Code Amendments: What You Need to Know

Apr 28, 2021

The Consolidated Appropriations Act, or “CAA,” was signed into law on December 27, 2020, after a heated battle between Senate Democrats and Republicans. 5,593 pages long, the CAA combined numerous appropriations bills aimed at addressing the economic damage of the COVID-19 pandemic, including those affecting the bankruptcy process. There are 9 key provisions in the…

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The End of Triangular Setoffs

Apr 1, 2021

3rd Circuit Rules against Triangular Setoffs in Bankruptcy Cases The 3rd Circuit Court of Appeals has ruled in the appeal of the McKesson Corporation to a Delaware Bankruptcy Court’s decision in In Re: Orexigen Therapeutics, Inc. (Bankr. D. Del. Nov. 13 2018) that so-called triangular setoffs will not satisfy the mutuality requirement of 11 U.S.C.…

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New US Trustee Program Non-Small Business Reporting Requirements

Mar 26, 2021

New U.S. Trustee Program Reporting Requirements for Non-Small Business Chapter 11 Bankruptcy Cases On June 21, 2021, the US Trustee’s Program (USTP) will implement new rules regarding the periodic reporting required in non-small business Chapter 11 bankruptcy cases. The new USTP process requires that Chapter 11 debtors in possession (DIPs) and Trustees file monthly reports…

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Tips on Document Management for Business

Mar 21, 2019

A Document Management Plan can help businesses manage both paper piles and electronic storage of documents.  While technology was supposed to be the answer to the mountains of paper that go along with managing a business, digital files can also pile up, with documents scattered among multiple departments and computers, as well as lurking in…

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Michigan’s Uniform Voidable Transfer Act

Nov 26, 2018

In Spring of 2018, Laura J. Eisele contributed to the Michigan Business Law Journal, Volume 38.  Laura wrote an Article titled “Understanding Standing of a Receiver to Bring Claims Under Michigan’s UVTA”.  The Uniform Voidable Transfers Act allows creditors to recover voidable transfers for both actual and constructive “fraud.” Read the article here.

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