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Mobile, Construction Law. David Houston IV – Nashville, Litigation and Bankruptcy. Troy Smith – Jacksonville, Construction Law. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Ryan Corbett – Tampa, Litigation – Patent. William Daniels, Jr. Jack Stephenson, Jr. Birmingham.
It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.
In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. v] The Court explained further, “[a]ny ambiguity in the text of §362(a)(3) is resolved.
As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy. What is a Preference Lawsuit?
If the owner fails to pay, you may pursue a judicial foreclosure against the property. What if construction has not started? If the owner declares bankruptcy, you will be in a strong position to collect any money the owner ends up paying out. You then must file again at the registry of deeds in order to enforce the lien.
When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’s bankruptcy proceedings. The bankruptcy court will establish a deadline, or “bar date,” by which claims must be filed. A claim, in short, is a right to payment. Do You Have to File a Claim? By When Must You File a Claim?
John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i] million construction loan from Evertrust Bank (“Evertrust”) to build a hotel. [v] Paul Spagnoli St.
Hanna Lahr practices in the firm’s Creditors’ Rights & Bankruptcy group. Hanna’s practice focuses on representing creditors and debtors, both in and out of court, to, among other things, enforce and/or restructure debt obligations, including through the bankruptcy process. Birmingham.
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