Jimerson Firm

NOVEMBER 16, 2020

When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. collateral. In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral.

Secured Creditor 69

Secured Creditor Collateral Repossession Creditors 69

Jimerson Firm

DECEMBER 10, 2021

Many secured creditors and equipment leasing companies have encountered defaulted debts, where the debtors and lessees retain possession of the collateral, including cars, boats, machinery, or other equipment. Broward Bank, 599 So. Dania Bank , 321 So. When Should Creditors use Replevin to Recover Collateral?

Secured Creditor 98

Secured Creditor Repossession Collateral Creditors 98

Jimerson Firm

NOVEMBER 23, 2020

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. The “Recoverable Value” is “the net dollar amount that a prudent lender could reasonably expect to recover by liquidating a particular piece of collateral.” See SOP 50 57. Liquidation Methods.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Jimerson Firm

JULY 1, 2020

When lenders take life insurance policies as collateral for loans, they need to be aware of what needs to occur to place a claim in the event their borrower dies. Therefore, it is critical for lenders to confirm that no prior assignment exists on life insurance collateral prior to taking the collateral on as security for a loan.

Collateral 98

Collateral Loans Lender Secured Creditor 98

Hudson Weir

SEPTEMBER 11, 2023

Secured loans or unsecured loans are crucial for many businesses, providing the investment they need to achieve their objectives and grow. According to the British Business Bank , there was a 12.8% increase in gross bank lending to SMEs between 2021 and 2022. What is a secured loan?

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

ABI

JANUARY 19, 2024

held that a secured creditor has the right to receive monetary payment for property sales based on its lien on “accounts.” The Bankruptcy Court further held the secured creditor's prepetition lien on accounts did not extend to proceeds from court-approved postpetition sale of real property. the “Debtor”) $1.5 Code Ann. §

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. Secured creditors include leasing companies and banks.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52