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Significant Amendments to Washington Homestead Exemption Signed Into Law
On May 12, 2021, Governor Jay Inslee signed SB 5408, enacting a significant increase in Washington’s homestead exemption. The legislation includes other important revisions addressing the treatment of homestead appreciation during a bankruptcy and th...
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Expanded Bankruptcy Subchapter V Eligibility for Small Business Debtors Extended for Another Year
On March 27, 2021, the COVID-19 Bankruptcy Relief Extension Act of 2021 was signed into law. This legislation extends the increased debt limit for small businesses to be eligible to reorganize under subchapter V of the Bankruptcy Code. While the incr...
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Temporary Amendment to Bankruptcy Code Opens Opportunities for Commercial Landlords and Tenants to Negotiate Deferred Payment Arrangements
Recent legislation has expanded opportunities for commercial landlords and tenants to negotiate deals to defer certain rent payments during the COVID-19 pandemic with less fear of later losing the arrearage payments as preferences if the tenant files...
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United States Supreme Court Holds “Mere Retention” of Bankruptcy Estate Property Does Not Violate the Automatic Stay
On January 14, 2021, the United States Supreme Court issued its opinion in City of Chicago v. Fulton, addressing whether the “mere retention” of bankruptcy estate property constituted an act to “exercise control over property of the estate” in violat...
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Supreme Court Holds that Trademark Licensee Retains Rights After Rejection of License by Licensor in Bankruptcy
In a long-awaited, nearly unanimous opinion written by Justice Kagan, resolving a circuit split described in our earlier blog post, the Supreme Court reversed the First Circuit and held that rejection by the licensor of a trademark license under Sect...
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Update: Give Me Liberty, or Give Me Death? Supreme Court May Resolve Circuit Split on Effect of Rejection of Trademark Licenses in Bankruptcy
In my September 11 blog post, Give Me Liberty, or Give Me Death?, I noted that the First Circuit’s decision in Tempnology—that rejection of a trademark license in bankruptcy divested the nondebtor licensee of its right to use the trademark—was subjec...
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