A continued low-price environment for commodities, trade uncertainty and COVID-19 issues impacting supply chains and labor costs have continued to put pressure on family farmers. In the first quarter of 2020 there were 170 Chapter 12 bankruptcies nationwide up from… Read More
Many Ninth Circuit courts, including Arizona Bankruptcy Courts, have relied on previous Ninth Circuit decisions primarily In re Lowenschuss and In re American Hardwoods, Inc. to prevent a bankruptcy plan from impacting obligations of non-debtors. However, the Ninth Circuit in… Read More
A bankruptcy court in the Eastern District of North Carolina took a first and important step to effectuate the purpose of the Small Business Reorganization Act (“SBRA”) to make chapter 11 reorganization affordable for small businesses by denying a… Read More
In a Chapter 12 bankruptcy, the Bankruptcy Court protected the ability of a farmer to receive crop subsidies from the U.S. Department of Agriculture (“USDA”) even if the farmer’s loan is in default. Outside of bankruptcy, the USDA had the… Read More
On May 15, 2020, the Small Business Administration (“SBA”) announced the loan forgiveness application associated with the Payroll Protection Program (“PPP”) loan allowing small businesses to apply for loan forgiveness if it received a PPP loan. The application requires… Read More
The recent Paycheck Protection Program provides loans that can help your business survive the pandemic. If you are interested in how to maximize forgiveness of the funds or determining if you certified appropriately the “current economic uncertainty makes this loan… Read More
Almost all lawsuits have a period within which they must be brought known as a statute of limitations. In Arizona, the statute of limitations for most issues regarding personal injury or negligence is two years and six years for contract… Read More
Cotton farmers and dairy farmers in Arizona were dealing with commodity price fluctuations that created business issues prior to the pandemic. While the rural communities of Arizona have not been the center of the pandemic, the food supply remains in… Read More
During the Great Recession, the delinquency rate for commercial real estate loans peaked in the second quarter of 2010 at 8.76%.1 Fallout from the current pandemic may dwarf that number. If debt service ratios are reviewed after April 2020, a… Read More
In times of crisis or uncertainty, such as the pandemic, few creditors are eager to litigate. Many creditors will simply be silent and send invoices, while others will be proactive in determining what can be done and understand that your… Read More