BULLETIN SMALL BUSINESS REORGANIZATION ACT POSTSCRIPT CARES Act Passed by Senate Increases Eligibility to Small Business Debtors with Aggregate Debts Up to $7,500,000 And Other Changes Early last Thursday morning, the Senate passed a substitute for H.R. 748, called the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”). The bill passed the House on Friday, and the President...
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By Henry E. Hildebrand, III, Chapter 13 Trustee, Nashville, TN
ASARCO, LLC v. Baker Botts LLP (In re ASARCO), 751 F.3d 291 (5th Cir. April 30, 2014) (Judge Jones). Fees incurred by a law firm representing a debtor, incurred in connection with defending a fee award, are not compensable as an administrative expense from the debtor’s bankruptcy estate.
Case Summary
ASARCO was a copper mining, smelting, and refining company that filed a Chapter 11 petition in 2005. Shortly before the filing, ASARCO’s parent corporation required it to transfer its controlling interest . . .
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