Jimerson Firm

NOVEMBER 27, 2023

Any secured creditor, large or small, may encounter a situation in which it is preferable to retain or recover the collateral in a transaction without having to sell the collateral itself. The purpose of this article is to make creditors aware of what is and is not possible to do under Florida law. 679.609(1).

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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. The Petition Date.

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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. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view.

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Debt Free Colorado

MARCH 3, 2023

This type of bankruptcy does not stop secured creditors from seizing your property, so if you have money to pay the debt, this isn’t the best option to take. This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment.

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BN Lawyers

MARCH 23, 2020

Taking additional debt in that situation just dilutes recovery for creditors and opens management up to potential liability. If so, the company may qualify as a small business debtor under the Small Business Reorganization Act of 2019 (the “ SBA ”). Drawing on secured credit facilities is less of a winning proposition.

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