ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. The loan was secured by a lien on “all assets of the debtor, including all accounts.” [1]

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Secured Creditor Bankruptcy Debtor Collateral 40

PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. One way committees try to enhance recoveries is by seeking “derivative standing” to commence adversary proceedings challenging the validity of a secured lender’s pre-petition liens. ’" Id.

Creditors 59

Creditors Debtor Collateral Unsecured Creditor 59

Jimerson Firm

FEBRUARY 3, 2021

In Florida, lenders may find themselves foreclosing on real property with a mobile home attached to the land. On the other hand, if the mobile home is not retired and the lender has a perfected lien on the mobile home, the lender must use replevin in addition to the foreclosure. Is the Mobile Home Retired?

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. Secured creditors include leasing companies and banks.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

Fraser

JUNE 25, 2020

Because debtors require sufficient cash to operate their businesses and pay for the administrative expenses of the chapter 11 process, many seek interim court approval for financing (called “debor-in-possession” or “DIP” financing) and/or the use cash collateral that is subject to a secured creditor’s lien. Walton, Jr.’s

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

BN Lawyers

MARCH 23, 2020

Work with Creditors. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. A lender may be willing to forbear payments in exchange for extending repayment out over an additional six-months to avoid forcing your business into bankruptcy.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67

Debt Free Colorado

MARCH 3, 2023

For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. The main disadvantage of Chapter 7 bankruptcy is that anything subject to a security interest is not exempt (home, automobile) and can be seized to satisfy the debt connected to the specific item.

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Collection Industry News

SEPTEMBER 29, 2020

Creditors will also benefit from the lower costs, quicker proceedings, and increased certainty about the outcome of the process, if at the expense of some leverage. The Bankruptcy Court retains discretion to extend these deadlines for “circumstances for which the debtor should not justly be held accountable.”.

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Bankruptcy Creditors Debtor Lawyers 45