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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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Hanna Lahr Named in Birmingham Business Journal’s 2021 Top 40 Under 40

Burr Forman

Hanna is a partner in the firm’s CreditorsRights & Bankruptcy group. Her practice focuses on representing creditors and debtors, both in and out of court, on a variety of issues. For more than a century, Burr & Forman LLP’s experienced legal team has served clients at the intersection of business and government.

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17 of Burr’s Attorneys Recognized in the “2021 Legal Elite” for South Carolina

Burr Forman

Weyman Carter – Bankruptcy & Creditors Rights. For more than a century, Burr & Forman LLP’s experienced legal team has served clients at the intersection of business and government. Jennifer Blumenthal – Corporate Investigations. John Connell, Jr. Labor & Employment. Erik Doerring – Tax & Estate Planning.

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24 of Burr’s Attorneys Recognized in the “2020 Legal Elite” for South Carolina

Burr Forman

Michael Burns – Government. Weyman Carter – Banking and Finance; Bankruptcy and CreditorsRight. Frannie Heizer – Government. Michael Weaver – Bankruptcy and CreditorsRight. Brad Wright – Government. Adam Artigliere – Residential Real Estate; Commercial Real Estate. Pam Baker – Environmental.

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Eleventh Circuit Holds Bankruptcy Rules Applicable to Matters on Which the Reference has been Withdrawn to the U.S. District Court

The Creditors Rights

The Eleventh Circuit recently held the Federal Rules of Bankruptcy Procedure, not the Federal Rules of Civil Procedure, govern adversary proceedings before the district courts. The petitioning creditors filed the motion within the 28-day deadline in the Federal Rule, but after the 14-day deadline in the Bankruptcy Rule. Rosenberg v.

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Burr & Forman Names Eight New Partners Across Five Offices

Burr Forman

From Burr & Forman’s Jacksonville office: Armando Nozzolillo is a member of the firm’s CreditorsRights and Bankruptcy practice group. For more than a century, Burr & Forman LLP’s experienced legal team has served clients at the intersection of business and government. About Burr & Forman LLP.

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Delaware Bankruptcy Court Holds LLC Operating Agreement Provisions Placing Sole Power in the Company’s Lender to Prevent a Bankruptcy Filing are Void as Against Public Policy

The Creditors Rights

In an important decision for debtors and creditors alike, the United States Bankruptcy Court for the District of Delaware has ruled that provisions in a limited liability company operating agreement, granting the company’s lender absolute power to prevent the company from filing a bankruptcy petition are unenforceable as against public policy.