The National Rifle Association (“NRA”), along with its wholly owned Texas subsidiary, filed for chapter 11 bankruptcy protection on January 15, 2021 in the Bankruptcy Court for the Northern District of Texas.  The case already has presented several threshold issues and challenges that are of interest to both bankruptcy practitioners and the market as a whole.

Continue Reading The NRA Bankruptcy: What You Need to Know About the National Rifle Association’s Recent Chapter 11 Filing

The Wall Street Journal reports that U.S. consumer retail spending rose 1.9% in September 2020. September is the fifth straight month of retail sales growth according to the United States Department of Commerce. [WSJ; Oct. 16, 2020]

The U.S. Supreme Court heard oral arguments in City of Chicago, Illinois v. Robbin L. Fulton, et al.

Can state regulatory agencies move ahead with lawsuits against businesses who file for bankruptcy in order to enforce consumer protection and business laws, or does the automatic stay’s broad injunctive sweep capture those actions? The answer depends on whether the state is acting in its regulatory capacity or simply like another creditor – and the distinction is not always clear.
Continue Reading Regulator or Creditor: When is Enforcement of Consumer Protection Laws Exempt from the Automatic Stay, and Who Makes That Determination?