Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 05 APRIL 2021

What We're Reading This Week [March 29, 2021]

Mayer Brown
Mayer Brown
Contributor
Mayer Brown

Mayer Brown

Mayer Brown is a leading international law firm positioned to represent the world’s major...

View firm profile
Explore more from Mayer Brown

The American Bankruptcy Institute reported that President Biden signed the "COVID-19 Bankruptcy Relief Extension Act" into law Saturday, March 27, 2021, which extends through March 27, 2022...

United StatesInsolvency/Bankruptcy/Re-Structuring
Danielle A. Corn
Danielle A. Corn
Sean Scott
Sean Scott
Aaron Gavant
Aaron Gavant
Author LinkedIn connections

The American Bankruptcy Institute reported that President Biden signed the "COVID-19 Bankruptcy Relief Extension Act" into law Saturday, March 27, 2021, which extends through March 27, 2022, provisions providing financially distressed consumers and small businesses with greater access to bankruptcy relief.  The provisions were included in the original CARES Act that was passed in the wake of the Covid-19 outbreak and were originally set to expire this month. [ABI; March 29, 2021].

The Wall Street Journal notes that, perhaps counterintuitively, the number of people seeking bankruptcy protection fell sharply last year. Individuals filing under Chapter 7 fell by 22% in 2020 as compared to 2019 and individuals filing under Chapter 13 fell 46% from 2019. Furthermore, individual bankruptcy filings have remained below 40,000 a month since last March when the pandemic began. Data suggest that drops in individual filings may be attributable, in part, to government

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Visit us at mayerbrown.com

Mayer Brown is a global services provider comprising associated legal practices that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer Brown International LLP (England & Wales), Mayer Brown (a Hong Kong partnership) and Tauil & Chequer Advogados (a Brazilian law partnership) and non-legal service providers, which provide consultancy services (collectively, the "Mayer Brown Practices"). The Mayer Brown Practices are established in various jurisdictions and may be a legal person or a partnership. PK Wong & Nair LLC ("PKWN") is the constituent Singapore law practice of our licensed joint law venture in Singapore, Mayer Brown PK Wong & Nair Pte. Ltd. Details of the individual Mayer Brown Practices and PKWN can be found in the Legal Notices section of our website. "Mayer Brown" and the Mayer Brown logo are the trademarks of Mayer Brown.

© Copyright 2026. The Mayer Brown Practices. All rights reserved.

This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Section 363 Sales In Bankruptcy: What Businesses, Lenders, And Buyers Need To Know

When a company enters Chapter 11 bankruptcy, many assume the process will culminate in a lengthy reorganization plan. However, distressed businesses are increasingly being sold through a different mechanism—a sale under Section 363 of the United States Bankruptcy Code. Understanding how Section 363 sales work can help business owners, lenders, investors, and prospective purchasers identify opportunities and avoid costly surprises in bankruptcy asset transactions.
United StatesInsolvency/Bankruptcy/Re-Structuring
Scarinci Hollenbeck LLC
Scarinci Hollenbeck LLC
Article

Quarterly Brief: What’s New, What’s Next Across Industries In Restructuring & Turnaround (Q2 2026)

Riveron's Q2 2026 Restructuring & Turnaround brief examines how companies across multiple industries are navigating elevated financial distress amid tighter credit conditions, rising debt maturities, and persistent operational pressures. The analysis explores sector-specific challenges from aerospace to retail, highlighting how management teams and lenders are addressing liquidity constraints and restructuring risks in an increasingly selective credit environment.
United StatesInsolvency/Bankruptcy/Re-Structuring
Riveron
Riveron
Article

Putting A Price On Summer Camp: Inside Simad’s $448M Bankruptcy Auction

Cole Schotz attorney Michael Sirota received an urgent early-morning call to file nearly 200 bankruptcy cases within 24 hours after the Shabseles brothers' real estate empire and summer camp network unexpectedly collapsed. With 20,000 children about to board buses for summer camp, the legal team faced the challenge of restructuring a complex web of entities while ensuring the camps could open on schedule.
United StatesInsolvency/Bankruptcy/Re-Structuring
Cole, Schotz, Meisel, Forman & Leonard
Cole, Schotz, Meisel, Forman & Leonard
Article

The Secured Creditor’s Playbook For Section 363 Sales

Section 363 sales have become a routine feature of commercial bankruptcy cases, often determining recovery for secured creditors before a reorganization plan is even filed. Understanding the mechanics of credit bidding, adequate protection rights, and bid procedure negotiations can mean the difference between maximizing recovery and watching collateral sold under unfavorable terms.
United StatesInsolvency/Bankruptcy/Re-Structuring
Adams and Reese LLP
Adams and Reese LLP
Article

You Can’t Un-Ring The Bell (Or The Assignment): Bankruptcy Court Dismisses Chapter 11 Cases In Favor Of A Pending ABC Proceeding

In In re Nussbaum Lowinger LLP, the Bankruptcy Court for the Southern District of New York (the Court) dismissed Chapter 11 bankruptcy cases commenced by two law firms and did so in favor of their assignment for the benefit of creditors proceeding already pending in New York state court. This decision provides useful guidance for creditors, assignees, and debtors evaluating whether to move from a state law assignment for the benefit of creditors to a federal bankruptcy case.
United StatesInsolvency/Bankruptcy/Re-Structuring
Arnold & Porter
Arnold & Porter
Article

Maximizing Value Along The Fraudulent Transfer Chain: What Must Be Avoided, And Who Must Be Sued?

A Delaware bankruptcy court ruling clarifies that trustees can pursue subsequent transferees in fraudulent transfer cases without naming the initial transferee as a defendant, though they must still prove and avoid the initial transfer. This decision provides critical guidance for vendors and creditors who may face clawback exposure even when the original wrongdoer isn't sued directly.
United StatesInsolvency/Bankruptcy/Re-Structuring
Lowenstein Sandler LLP
Lowenstein Sandler LLP
Article

SDNY Bankruptcy Court Offers Further Direction On Default Interest And Fee Recovery

The Southern District of New York Bankruptcy Court's written decision in 1300 Desert Willow expands upon the Mako framework, clarifying when debtors can challenge an oversecured creditor's entitlement to post-petition default interest at contractual rates. The ruling narrows the application of the "fresh start" factor in single-asset real estate cases and addresses whether Section 506(b)'s reasonableness requirement applies to prepetition claim components, providing critical guidance for bankruptcy practiti
United StatesInsolvency/Bankruptcy/Re-Structuring
Benesch, Friedlander, Coplan & Aronoff LLP
Benesch, Friedlander, Coplan & Aronoff LLP
Article

DOL Announces Enforcement Actions Against Employers In H-1B And PERM Fraud Probe

The Trump Administration has launched an unprecedented enforcement action suspending permanent labor certification processing for eight major employers, linking immigration sponsorship to layoff histories and recruitment practices. This development signals a fundamental shift in how the government evaluates employer access to H-1B and green card programs, with investigations already underway and subpoenas served.
United StatesEmployment and HR
Mayer Brown
Mayer Brown
Article

Landmark DoorDash Settlement Confirms NYC DCWP’s Aggressive Enforcement Posture

New York City's Department of Consumer and Worker Protection secured a landmark $131.5 million settlement with DoorDash, marking the largest worker settlement in the city's history and the largest involving food delivery workers nationwide. The agreement provides over $115 million in direct compensation to more than 260,000 delivery workers who were underpaid, unpaid, or paid late, while establishing a comprehensive three-year compliance monitoring program.
United StatesEmployment and HR
Mayer Brown
Mayer Brown
Article

Trump Administration Announces New Enforcement Actions Against Employers In H-1B And PERM Fraud Probes

The Trump Administration has launched an unprecedented investigation into H-1B visa and PERM labor certification programs, with the Department of Labor's Office of Inspector General issuing dozens of subpoenas and suspending employers' ability to process applications. Federal agencies are deploying new enforcement tools including whistleblower programs and criminal prosecution threats...
United StatesImmigration
Mayer Brown
Mayer Brown
Article

EU’s CBAM Downstream Extension And Anti-Circumvention Amendments: The Road To Trilogue

The European Union's Carbon Border Adjustment Mechanism is undergoing critical legislative refinement as the Commission, Council, and Parliament have each established distinct positions on extending CBAM to downstream goods and strengthening anti-circumvention measures. With trilogue negotiations now underway and the first political trilogue scheduled for October 2026, significant divergences remain between the institutions on scope, exemptions, and enforcement mechanisms that will shape the final framework
European UnionEnvironment
Mayer Brown
Mayer Brown