Liquidation involves selling a company’s assets to pay off creditors when the business becomes insolvent. Under U.S. Bankruptcy Code Section 507, creditor claims are settled in a specific order, with ...
Many single asset real estate (SARE) bankruptcies will check some or all of the boxes for a bad faith filing. Nevertheless, courts may be reluctant to dispose of these cases as bad faith filings, ...
Imagine a lender holding a $1 million claim against a debtor but the collateral is now worth only $600,000. Ordinarily, bankruptcy law would split that claim in two: a secured claim worth $600,000 and ...
In a recent pair of decisions, the Ninth Circuit Bankruptcy Appellate Panel held that even fully secured creditors with nonrecourse claims and unsecured creditors who are paid off after the ...
Secured debt is financing that uses collateral to back up the loan. Collateral is an asset you own, like a car or house. Even cash deposits can function as collateral in some cases. If you default on ...
Recent Delaware case law clarifies that secured creditors do not lose priority by inaction after default, favoring the “trace and recapture” approach. The court emphasized that rights depend on the ...
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