Hudson Weir

APRIL 15, 2021

A debenture is a document representing a loan agreement between a lender and a borrower, granting the lender security over the borrower’s assets. This gives the lender a means of collecting the debt if the borrower cannot pay. Debentures are typically used by traditional lenders like banks to provide funding to large companies.

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Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. This amount is then used to give unsecured lenders more chances to recoup a little of their outstanding capital.

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PBWT

JULY 28, 2022

In addition, one major cryptocurrency exchange platform recently warned investors that, in the event of bankruptcy, its users’ assets may be treated as property of the estate, which would leave users in the unfortunate position of being treated as unsecured creditors. This revelation caused that entity’s stock to plummet.

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PBWT

MARCH 2, 2021

” [1] Critically, the plan leaves all unsecured creditors unimpaired. Protecting Trade. Bankruptcy judges are often and understandably the most protective of “the little guy” – the trade creditor who might not focus on or understand the significance of a notice from a faraway Bankruptcy Court.

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Hudson Weir

JULY 26, 2019

The moratorium prevents creditors such as finance companies, lenders, HMRC and landlords from taking any further action against the company. There is no requirement to report or give notice of intention to appoint an administrator to unsecured creditors or shareholders (unlike with liquidation). .

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Troutman Sanders

NOVEMBER 7, 2023

Small Business Administration (SBA) announced that it has granted three new Small Business Lending Company (SBLC) licenses to lenders focused on historically underserved markets — the first expansion of the SBLC program in more than 40 years. The company expects to have sufficient funds to fully repay unsecured creditors.

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