Remove Creditors Remove Lender Remove Retail Remove Secured Creditor
article thumbnail

Recent Decision on Derivative Standing by a Creditors’ Committee to Challenge a Lender’s Liens

PBWT

In many chapter 11 cases, creditors’ committees can play a vital role in maximizing the recoveries of unsecured creditors. But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. In re Platinum Corral, LLC , No. 21-00833-5-JNC, 2021 WL 4695327 (Bankr. ’" Id.

article thumbnail

JUST IN TIME: NEW BANKRUPTCY RELIEF FOR SMALL BUSINESSES – NEW YORK LAW JOURNAL

Collection Industry News

million in light of the unprecedented financial distress being experienced by small businesses all across the county, including especially by small retailers and manufacturers, restaurants and services providers. Owners now have a way to keep their equity ownership even over the objection of creditors. million to $7.5