ABI
JANUARY 22, 2024
In a Chapter 12 bankruptcy, the debtor generally proposes a plan for repaying creditors from future earnings. [1] 1] Under a Chapter 12 plan, secured creditors will generally be paid in full, while unsecured creditors will often receive less than full payment. [2] 10] These loans were secured by $1.45
Hudson Weir
SEPTEMBER 11, 2023
Secured loans or unsecured loans are crucial for many businesses, providing the investment they need to achieve their objectives and grow. In total, banks provided £65.1bn in loans to small companies with more likely to have gone to larger businesses too! What is a secured loan?
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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. Secured creditors include leasing companies and banks.
Hudson Weir
JANUARY 26, 2024
A restructuring plan can be used for numerous debt restructuring purposes, such as: Debt rescheduling A compromise in the amount of debt Refinancing Arrangements can be made with both secured and unsecured creditors under a restructuring plan. Restructuring plans can be used to compromise both secured and unsecured debt.
PBWT
MARCH 7, 2021
It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? Will a court dismiss the case so you can seek a loan? The debtor’s motion to dismiss drew creditor opposition. 3:20-cv-00400, 2021 U.S.
ABI
JANUARY 19, 2024
held that a secured creditor has the right to receive monetary payment for property sales based on its lien on “accounts.” The Bankruptcy Court further held the secured creditor's prepetition lien on accounts did not extend to proceeds from court-approved postpetition sale of real property. the “Debtor”) $1.5
Hudson Weir
APRIL 15, 2021
A debenture is a type of loan agreement used in business finance. A debenture is a document representing a loan agreement between a lender and a borrower, granting the lender security over the borrower’s assets. If your company defaults on a loan, the debenture holder can appoint an administrator to take control of the company.
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