Alerts

On April 22nd, 2020, the Chief Judge of the United States Bankruptcy Court for the Eastern District of Pennsylvania signed Misc. Order 20-3007. The Order outlines the local process for notification of forbearance agreements in active chapter 13 bankruptcy cases due to the COVID-19 pandemic.

On April 17th, 2020, the Bankruptcy Judges, along with the Clerk of Court of the Western District of Pennsylvania Bankruptcy Court, held a conference* with attorneys practicing in that jurisdiction to discuss matters and procedures related to the outbreak of COVID-19.

Illinois Governor J.B. Pritzker issued Executive Order 2020-25, which suspends the statutory provisions applicable to service of a garnishment summons, wage deduction summons, and citations to discover assets on consumer debtors and consumer garnishees.

Can foreclosures proceed on abandoned properties notwithstanding the various foreclosure moratoria? We are raising this issue with the courts in an attempt to convince them to allow foreclosures to proceed on abandoned properties, as an exception to the moratorium.

On March 28th, 2020, the Governor of Illinois issued Executed Order No. 2020-16 in response to the COVID-19 Disaster Proclamation. Executive Order 2020-16 deems the repossession of vehicles contrary to the interest of preserving public health.

On March 27th, 2020, President Donald J. Trump signed into law the Coronavirus Aid, Relief and Economic Security Act or the CARES Act. The Act contains several provisions that will impact current or future bankruptcy cases.

In the midst of the COVID-19 pandemic, Ohio's state government took numerous steps to prevent the spread of the disease, preserve human life, and promote public order. Of particular interest to creditors is Ohio House Bill 197, section 22.

On Friday afternoon, March 27th, H.R. 748, the CARES Act, was passed by the U.S. House of Representatives. The Act provides emergency assistance and health care response for individuals, families, and businesses affected by the COVID-19 pandemic. Title IV of the 880-page work pertains to mortgage servicing.

Weltman has initiated our Business Continuity Plans (BCP) as a result of the impacts and mandates associated with the COVID-19 virus outbreak.

The COVID-19 pandemic has brought forbearance agreement requests to the top of the creditor's agenda. Now is the time to familiarize oneself with forbearance agreements and best practices in utilizing them.