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 claim, in short, is a right to payment. 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.

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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

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PBWT

JANUARY 19, 2021

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. v] The Court explained further, “[a]ny ambiguity in the text of §362(a)(3) is resolved.

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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.

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PBWT

AUGUST 16, 2022

The Bankruptcy Court for the District of Hawaii ruled that the extension was constructively fraudulent, and thus avoidable under Bankruptcy Code section 548. But the Owners’ grand plans never came to fruition, and they eventually filed for chapter 11 bankruptcy. See In re Pac. Holdings, Inc. , Holdings, Inc. ,

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Nexa Collect

APRIL 11, 2021

The number of those actually furnishing payment information to the consumer reporting agencies has decreased in the last 10 years. A report released by the Consumer Financial Protection Bureau placed the number of reported payments on credit card accounts at 40% in 2020. In 2013, it was at 88%.

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PBWT

FEBRUARY 5, 2023

This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. More specifically, in this case, a junkyard is the location of the debtor’s property, which consists of “construction debris, scrap piles, tire mounds, collapsed trailers, and inoperable vehicles.”

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Creditors Bankruptcy Debtor Construction 65

Collections Law

OCTOBER 22, 2021

Contractors and subcontractors often use mechanic’s liens to help them secure payment, but architects often do their work even before the builders break ground. What if construction has not started? Once you deliver your work per the agreement, you have grounds for payment and enforcement. At the Law Offices of Alan M.

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In the Red

MAY 21, 2019

v Tempnology, LLC case: Whether, under §365 of the Bankruptcy Code, a debtor-licensor’s “rejection” of a license agreement—which “constitutes a breach of such contract,” 11 U.S.C. One of its first motions in the bankruptcy case was to reject the Agreement and the focus quickly turned to the trademark license.

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Taurus Collect

MARCH 5, 2024

Consider a Payment Plan: Many debt collectors are open to negotiating payment plans that are manageable for the debtor. Structuring a payment plan can prevent further actions and lessen financial strain. Use our Late Payment Calculator to calculate your outstanding credit amount. About Us Taurus Collections (UK) Ltd.

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Debt collector Asset liquidation Debtor Education 52

Collection Industry News

DECEMBER 13, 2023

Walmart in 2021 scrapped its layaway program, which allowed people to take home merchandise after completing a series of financed payments. But even users who aren’t delinquent in their payments can quickly become overextended, raising the risk of spiraling costs, credit analysts warned.

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UK debt collections

JANUARY 30, 2024

Latest data analysis by Mazars has found that on average a dozen construction firms are going bust every day after 4,370 firms collapsed last year. This is an immensely difficult period for the construction sector. One of the most pressing issues is the delay in payments to sub-contractors.

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Construction Bankruptcy Debt Recovery 59

PBWT

JULY 15, 2020

Generation Resources Holding Company, LLC (“Generation Resources”) agreed in July 2005 to sell the right to construct three wind power projects to Edison Capital in exchange for certain payments. In April 2008, Generation Resources filed for bankruptcy, and Eric C. ” 11 U.S.C. § § 550(a).

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BN Lawyers

AUGUST 29, 2019

Constructive Fraudulent Transfer. The Trustee also alleged that the payments of commissions were constructive fraudulent transfers under TUFTA and 11 U.S.C. § However, the Court’s analysis seems to imply that the Fifth Circuit would hesitate to apply the Rule 9(b) standard to constructive fraudulent transfer claims.

Construction 52

Construction Bankruptcy 52

ABI

JANUARY 10, 2020

American Bankruptcy Institute Law Review Staff Member. Luxurious lifestyles alone do not violate the good faith requirement for proposing a plan of reorganization under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). The purpose of the Bankruptcy Code is to provide honest debtors with a fresh start. [13]

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The Creditors Rights

AUGUST 2, 2016

The United States District Court for the Southern District of Alabama subsequently held the Crawford decision as placing the FDCPA and the Bankruptcy Code in irreconcilable conflict. The court further noted that a “right to payment” under the Bankruptcy Code “is nothing more or less than an enforceable obligation.” 443 (2007).

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UK debt collections

SEPTEMBER 21, 2021

Euler Hermes’s forecasts are based on three indicators that can help detect small business insolvency and corporate distress four years before a bankruptcy. Euler Hermes also found that a quarter (25%) of those in the energy sector and almost one in five (19%) of construction firms will be vulnerable in the coming years.

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Manufacturing Construction Government Bankruptcy 22

ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In general, an employee benefit plan may assert a priority claim against a debtor in a bankruptcy case subject to a cap imposed by title 11 of the United States Code (the “Bankruptcy Code”). Bridget Golden. John’s University School of Law. 18].

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i] million construction loan from Evertrust Bank (“Evertrust”) to build a hotel. [v] Paul Spagnoli St.

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