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. on Tuesday, October 13, 2020, reports CBS. The case implicates the intersection between the bankruptcy code's automatic stay and turnover provisions and whether consumer debtors whose cars were impounded for unpaid tickets before bankruptcy may have their cars returned from impound after filing for bankruptcy. [Oct. 14, 2020]

Bloomberg reports that a surge in COVID-19 cases during the fall and winter could push a significant number of hospitals into bankruptcy. Since the COVID-19 pandemic began, more than three dozen hospitals have filed bankruptcy. Bloomberg further reports that nearly half of all domestic hospitals could be operating at a loss by the year's end. [Bloomberg; Oct. 14, 2020]

CNN reports that AMC Entertainment Holdings, Inc., the world's largest movie theater chain, may exhaust its existing cash reserves by the end of 2020 or early in 2021 if it is not able to raise additional capital in the near-term. AMC has reopened 83 percent of its theaters nationwide, but reports that attendance is down about 85 percent from 2019. [CNN; Oct. 13, 2020]

Visit us at mayerbrown.com

Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the "Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe - Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC 303359); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

© Copyright 2020. The Mayer Brown Practices. All rights reserved.

This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.