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The Rights of a Prepetition Lien Holder Against Postpetition Proceeds from a Sale of Real Property

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. In 2017, Allegiance Bank loaned Burts Construction, Inc. the “Debtor”) $1.5

Secured Creditor

Secured Creditor Bankruptcy Debtor Collateral

As Chapter 11 Bankruptcy Filings Surge, Here’s What Creditors Need to Know to Protect and Enforce Their Rights

Fraser

JUNE 25, 2020

The petition date is the date on which a debtor files a chapter 11 bankruptcy proceeding. The debtor is required to serve all known creditors with notice of the commencement of the chapter 11 case. Such relief may include a request to pay some unsecured creditors (such as employees or “critical vendors”) ahead of others.

Creditors

Creditors Bankruptcy Unsecured Creditor Debtor

Creditor Collections Today

The Rights of a Prepetition Lien Holder Against Postpetition Proceeds from a Sale of Real Property

As Chapter 11 Bankruptcy Filings Surge, Here’s What Creditors Need to Know to Protect and Enforce Their Rights

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