Jimerson Firm

FEBRUARY 11, 2022

A construction project to a screeching halt when a property owner files for bankruptcy, creating a serious risk of substantial losses for the contractor, as well as subcontractors and suppliers. The list of creditors receiving the Notice should include the general contractor of an incomplete construction project. See 11 U.S.C.

Construction 98

Construction Bankruptcy Secured Creditor Debtor 98

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

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

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

Hudson Weir

SEPTEMBER 11, 2023

What is a secured loan? To reduce the lender’s risk exposure, a secured business loan provides them with collateral – a company asset. Company assets could include anything from equipment and constructions to vehicles and intellectual property. Therefore, secured loans tend to be for larger amounts.

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Troutman Sanders

APRIL 24, 2023

Despite the liberal construction typically afforded to pleadings filed by pro se litigants, the court dismissed the plaintiff’s complaint sua sponte for failure to state a claim. Though the plaintiff may have been confused, the defendant’s reporting of the loan from origination to charge-off provided a clear picture to would-be creditors.

Loans 52

Loans Repossession Secured Creditor Construction 52

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. .’

Bankruptcy 65

Bankruptcy Debtor Creditors Repossession 65