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News & Updates

Daily Three: July 20


July 20, 2020

Read Time

1 minute



  1. On February 19, 2020, Congress, when enacting The Small Business Reorganization Act (“SBRA”) made it easier for “small businesses” to reorganize (as opposed to liquidating or selling their assets) and added a diligence requirement before filing “preference” actions. Essentially, the SBRA primarily created Subchapter V of the Bankruptcy Code, specifically for small businesses. Consider the modifications and specificsAuthored by Sean Williams and Harold Israel


  1. The City of Chicago’s emergency travel order went into effect on Monday (July 6). Learn what Chicago Community Associations need to know about the OrderAuthored by Adam Kahn


  1. Ensure you are compliant with all environmental requirements. Beginning in March 2020, both the Illinois EPA and the United States EPA issued guidance providing significant enforcement discretion for certain environmental violations directly relating to responses to COVID-19. Those discretions are set to expire in August. Authored by James Brusslan


3+. Mayor Lightfoot announces a reinstatement of COVID related restrictions for Chicago residents. Learn more about the updates.


For more resources and LP's response to COVID-19, visit this webpage.

Filed under: Community Association, Financial Services & Restructuring, Litigation

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