This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Mobile, Construction Law. Troy Smith – Jacksonville, Construction Law. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Michael Hall – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Bet-the-Company Litigation, Litigation – Bankruptcy. Birmingham.
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. The SBRA created a new “subchapter V” to Chapter 11 of the Bankruptcy Code , which provides small business debtors an easier path through bankruptcy.
The petition date is the date on which a debtor files a chapter 11 bankruptcy proceeding. The debtor is required to serve all known creditors with notice of the commencement of the chapter 11 case. In order to participate in the distribution of the debtor’s assets to satisfy pre-petition claims, a creditor must have a valid claim.
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. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view.
ii] Consequently, the designation of a debtor as a SARE may have significant ramifications in a case. million construction loan from Evertrust Bank (“Evertrust”) to build a hotel. [v] v] Because Evertrust refused to fund $4 million on the loan, The Source Hotel halted construction. [vi]
If you’re owed money by a bankrupt debtor, you likely have to file a claim. A creditor must take care to ensure that the claim amount listed on the debtor’s schedules is accurate and the claim is scheduled against the right debtor (in cases involving more than one debtor entity). Do You Have to File a Claim? Walton, Jr.’s
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. She also represents creditors in bankruptcy proceedings, foreclosure sales, and receiverships. Birmingham.
The new bill issued a moratorium on evictions, foreclosures, and repossessions, which expired on June 30, 2020. Debtors must notify creditors if they are facing financial hardship due to COVID-19, but no additional documentation is required for protection. The protections are set to expire on February 1, 2021.
Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here. For more information, click here.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content