Recent Decision on Derivative Standing by a Creditors’ Committee to Challenge a Lender’s Liens
PBWT
OCTOBER 27, 2021
Post-petition, the debtor operated as a debtor-in-possession and, with the consent of one its largest pre-petition lenders, used cash collateral from its retail locations to continue operating. The debtor encountered financial problems related to the onset of the COVID-19 pandemic, resulting in a chapter 11 filing in April 2021.
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