Fraser

JUNE 25, 2020

It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

Fraser

JULY 21, 2020

As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. 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. What is a Preference Lawsuit?

Creditors 56

Creditors Bankruptcy Debtor Construction 56

Fraser

SEPTEMBER 28, 2020

When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’s bankruptcy proceedings. A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. A claim, in short, is a right to payment.

Bankruptcy 52

Bankruptcy Creditors Debtor Construction 52

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. In 2017, Allegiance Bank loaned Burts Construction, Inc. the “Debtor”) $1.5

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

Hudson Weir

SEPTEMBER 11, 2023

To reduce the lender’s risk exposure, a secured business loan provides them with collateral – a company asset. Company assets could include anything from equipment and constructions to vehicles and intellectual property. In contrast, an unsecured loan provided by a lender does not involve a company asset’s usage as collateral.

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Taurus Collect

MARCH 5, 2024

Creditors may take legal action to recover the debt, which might result in wage garnishment or a lien against your property. Seek Professional Advice: Financial advisors or credit counseling services can offer strategies and negotiations skills to handle debt collections constructively and legally.

Debt collector 52

Debt collector Asset liquidation Debtor Education 52