Bankruptcy Creditor's Rights Debtor Lender 
Burr Forman
JANUARY 26, 2022
Meek have been recognized in the January 2022 issue of Lawdragon’ s “500 Leading Bankruptcy & Restructuring Lawyers” List. Lawdragon says, “The start of the pandemic brought expectations for mountains of commercial bankruptcy work. Golden was named in the Bankruptcy & Commercial Litigation specialty.
Sawin & Shea
NOVEMBER 15, 2023
If you’re struggling with financial hardship, filing for bankruptcy can be an effective way to get back on your feet. But filing for bankruptcy in Indiana doesn’t mean every outstanding debt you’ve ever incurred gets wiped away. Declaring bankruptcy will discharge most types of debt but not others. What do we mean by this?
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The Creditors Rights
SEPTEMBER 13, 2016
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.
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.
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.
Jimerson Firm
DECEMBER 30, 2020
In the event a borrower is seriously delinquent on making payments under a SBA loan, or the SBA loan is classified in liquidation status, lenders and CDCs must develop a prudent and commercially reasonable strategy to maximize their recovery on the loan. 60 calendar days), the lender/CDC must move forward with liquidating the collateral.
Jimerson Firm
JANUARY 27, 2021
SBA lenders should understand the appropriate protocols after receiving an offer in compromise from a borrower, including what an offer in compromise is, when it is appropriate, the general requirements, and the process for reviewing, approving and completing a compromise. SOP 50 57 ; SOP 50 55. SOP 50 57 ; SOP 50 55.
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