SURVIVING FINANCIAL DISTRESS FROM COVID-19 IN THE RESTAURANT, BAR, AND SERVICE INDUSTRY
BN Lawyers
MARCH 23, 2020
Low Priority: Unsecured Lenders and other Creditors. Unsecured lenders should generally be willing to defer payments. For an unsecured creditor to obtain a recovery, it would need to engage in a months-long legal process to obtain a judgment that could be halted at any point by a chapter 11 bankruptcy reorganization.
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