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What Are Creditors’ Rights During Insolvency Proceedings?

Hudson Weir

If your business is struggling to pay its debts when they fall due, its important to keep in mind what are creditors rights during insolvency proceedings? As a director of an insolvent company, your overriding duty moves from maximising profits for the owners to preventing further losses, with creditors repayments in mind.

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Appeals Court Partially Reverses Dismissal of FDCPA Case Over Consumer Status and Debt Definition

Account Recovery

The ruling emphasized that a bankruptcy discharge eliminates personal liability but does not extinguish a creditors right to enforce a lien on property. The court found that, despite the discharge, the plaintiff retained a debt as defined under the FDCPA because the mortgage lien on the property remained enforceable.

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Prodigal Raises $12M in Series A Funding

Account Recovery

More proof that there is plenty of interest from investors in the accounts receivable management industry came yesterday, in the form of a $12 million Series A funding announcement from Prodigal, a technology company that provides an automation platform for debt buyers, debt collectors, and creditors rights law firms.

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Getting to Know Cara Cotter of Kaleo Legal

Account Recovery

After working for a law firm based in Norfolk, Virginia handling business bankruptcy, creditors rights, and civil litigation matters, I joined PRA Group, Inc. as Compliance Counsel.

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How Much Does It Cost To Close A Limited Company?

Hudson Weir

This inexpensive choice is an option if your company has not : Traded or sold off stock in the last three months Been threatened with liquidation Any agreements with creditors, such as a Company Voluntary Arrangement (CVA) Changed its name in the last three months Find out more about the process involved when closing a limited company.

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How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. 679.609, Fla. What Does it Mean to “Breach the Peace”?

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SBA Loans: How to Maximize Recovery by Liquidating Personal Property

Jimerson Firm

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. Florida case law provides that a breach of the peace occurs if the secured creditor enters the debtor’s land to repossess the collateral, without the debtor’s consent.