Fraser

JUNE 25, 2020

Creditors of a bankrupt company must be aware of the various deadlines and procedures that govern the chapter 11 process in order to protect and enforce their rights. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. First Day” Motions. Proof-of-Claim Bar Date.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

Hudson Weir

FEBRUARY 28, 2023

Those the business owes money to are known as creditors. In this blog, let’s look at which creditors are paid first if the organisation ultimately becomes insolvent and its assets are sold to repay the balance due (a winding-up or liquidation). Secured creditors include leasing companies and banks.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

Hudson Weir

SEPTEMBER 11, 2023

In this guide we’ll explain how secured and unsecured loans work, plus what happens if a company falls into debt or becomes insolvent. To reduce the lender’s risk exposure, a secured business loan provides them with collateral – a company asset. What is an unsecured loan? What is a secured loan?

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

ABI

JANUARY 19, 2024

In evaluating the Texas Business & Commerce Code and title 11 of the United States Code (the “Bankruptcy Code”), the United States Bankruptcy Court for the Southern District of Texas, in In Re Burts Construction, Inc., held that a secured creditor has the right to receive monetary payment for property sales based on its lien on “accounts.”

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40