Burr Forman

JANUARY 7, 2022

From Burr & Forman’s Jacksonville office: Armando Nozzolillo is a member of the firm’s Creditors’ Rights and Bankruptcy practice group. About Burr & Forman LLP.

Bankruptcy 52

Bankruptcy Creditors Secured Creditor Manufacturing 52

The Creditors Rights

MAY 24, 2016

The Ninth Circuit BAP recently discussed on appeal the issue of whether a bankruptcy court may use the “fair and equitable” standard for confirmation in § 1129(b) to deny an oversecured creditor default interest on its claim to which it would otherwise be entitled under § 506(b). In Wells Fargo Bank, N.A. 819 (9 th Cir. Capital Corp.

Bankruptcy 40

Bankruptcy Debtor Creditors Collateral 40

BN Lawyers

OCTOBER 23, 2020

Originally founded in 1993, the National Creditor Bar Association is dedicated to serving law firms engaged in the practice of creditors rights law. The firm’s Bankruptcy and Recovery Practice Group represents debtors, committees, trustees, and creditors in and out of bankruptcy court.

Law Firms 52

Law Firms Legal Collections Creditors Financial services 52

The Creditors Rights

JULY 5, 2016

Lenders often go to great lengths to ensure their borrowers are Special Purpose Entities —entities whose assets will not be commingled with the assets of parent or affiliated companies—rendering bankruptcy filings by the SPE less likely. In Opportunity Finance , the debtors were Petters Company, Inc. (“PCI”) 3d 810 (8 th Cir.

Lender 40

Lender Bankruptcy Creditors Collateral 40

The Creditors Rights

AUGUST 30, 2016

Neff then filed his third bankruptcy case, a chapter 7 proceeding, more than one year following the recording of the quit-claim deed. The court stated: “At the core of the Bankruptcy Code are the twin goals of ensuring an equitable distribution of the debtor’s assets to his creditors and giving the debtor a fresh start.”

Bankruptcy 40

Bankruptcy Debtor Creditors Judgment 40

The Creditors Rights

AUGUST 16, 2016

2016) should give pause to all buyers of assets from bankruptcy estates. The question in this particular situation was whether the sale was free and clear of claims purchased by consumers prior to the bankruptcy filing and which had a defective ignition switch. An appeal was certified directly to the Second Circuit.

Bankruptcy 40

Bankruptcy Debtor Creditor's Rights Creditors 40

The Creditors Rights

JUNE 7, 2016

Many lenders attempt to render their borrower bankruptcy remote by requiring the borrower to have on its board a director, known as a “blocking director,” whose consent is required for any bankruptcy filing. If they don’t, a lack of the blocking director’s consent may not prevent the borrower from filing bankruptcy. 899 (Bankr.

Lender 40

Lender Bankruptcy Foreclosure Government 40

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).

Debt collector 40

Debt collector Fair Debt Collection Bankruptcy Creditors 40

Jimerson Firm

JANUARY 27, 2021

4) Collection of the loan balance is not barred by a valid legal defense, such as discharge in bankruptcy or the statute of limitations; (5) The borrower has not engaged in fraud, misrepresentation, or other financial misconduct; and. (6) illness), paying it would cause financial hardship. (4)

Loans 96

Loans Lender Collateral Creditors 96

Jimerson Firm

DECEMBER 30, 2020

Essentially, a workout agreement restructures the material terms and conditions of the SBA loan in order to: avoid actions such as foreclosure or bankruptcy; allows the borrower to cure the default and improve their ability to repay the loan; and enables the lender or CDC to maximize their recovery on the loan. SOP 50 57 ; SOP 50 55.

Loans 98

Loans Collateral Lender Foreclosure 98

Jimerson Firm

JULY 30, 2020

For example, when a borrower becomes insolvent or files for bankruptcy, the lender can still attempt to mitigate its damages by seeking to recover all or a portion of its damages from the guarantor. See, e.g. , Guirlinger v. Goldome Realty Credit Corp., 2d 1135, 1136 (Fla. Bryan, 384 So. 2d 1323, 1324 n.3

Lender 98

Lender Loans Foreclosure Judgment 98

Jimerson Firm

AUGUST 7, 2020

Importantly, the Act gives the court a new power to, similar to as in bankruptcy proceedings, stay certain actions to enforce claims against receivership property. 714.14, Fla.

Foreclosure 98

Foreclosure Lender Judgment Creditors 98