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Barron and Newburger Selected as Counsel to Unsecured Creditors Committee of Expansion Industries, LLC.

BN Lawyers

Barron and Newburger is pleased to announce that the firm has been selected as counsel to the official committee of unsecured creditors of Expansion Industries, LLC. appeared first on Barron & Newburger, P.C.

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Idaho Bankruptcy Court Holds that Later-Recovered Assets Revert to Borrower Absent Plan Provision to the Contrary

Troutman Sanders

In In re McCrorey , the debtors confirmed a chapter 13 plan, which required them to make payments for 60 months and provided no payments to unsecured creditors. The court then turned to the confirmed plan, stating that such plan is “a contract between the debtor and the debtor’s creditors.”


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Another Bankruptcy Court Weighs in on Postpetition Interest


Because it was solvent at confirmation, the debtor proposed to pay secured creditors in full, with interest at the contract rate, and general unsecured creditors in full, with postpetition interest at the “legal rate,” or a rate determined by the Court that leaves the creditors unimpaired. [1] 94 (BAP 9th Cir.

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Restructuring And Insolvency: What Is A Restructuring Plan?

Hudson Weir

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.

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Section 1126 of the Bankruptcy Code and the Dangers of Sleeping on Your Rights as a Creditor


The plan proposed to pay unsecured creditors $300,000 over five years and to make regular mortgage payments to the secured creditors. Just seven unsecured creditors voted on the plan, all in favor. Harris County voted to accept the plan. Bressler had obtained the required votes to confirm the plan.

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Failed Private School was owed £51k in Unpaid School Fees

UK debt collections

Preferential creditors, who are owed £99,511.20, such as some of the 90 staff, could receive a first and final dividend of 76p for every pound owed. But money for unsecured creditors, who are owed £2.28 The school was owed £51,536 by several debtors for unpaid private school fees and there was a total of £294,714.94 in the bank.

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Settlement Agreement Found not to be an Executory Contract Under Section 365(a)


2] The debtor, Svenhard’s Swedish Bakery ("Svenhard’s"), was a member of the Confectionery Union and Industrial Pension Fund (the "Pension Fund"), the unsecured creditor at issue in this case. [3] at *8 (citing Unsecured Creditors’ Comm. 8] The Pension Fund declared a default under the agreement on December 13, 2019. [9]