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Dealing with Corporate Distress 10: All About “Claims” Outside Bankruptcy By Jonathan Friedland • June 27, 2022
A Series on the ABCs of ABCs, when it comes to claims there’s a plethora of them. From secured, to unsecured, to bankruptcy, and trade. Read all the basics in…
90 Second Lesson: How a Licensee is Treated in the Bankruptcy of its Licensor By The DailyDAC Editors • June 20, 2022
A reader named Harvey M. wrote in to ask this question: my business licenses certain intellectual property from another company. I am concerned that that company, which we can call…
Assignee Unknown: The Curious Cases of SmartLabs, Shine Bathroom Technologies, Liftopia, GlassPoint, SolarReserve, Maker Media, & Toymail By Jonathan Friedland • May 16, 2022
A curious mystery unraveled. Learn about the significant aspects of an Assignment for the Benefit of creditors, and why knowing the Assignee is important.
You Sued and Won. Now What? How to Enforce a Judgment in Illinois and Turn It Into Cash By Dave Madden • April 28, 2022
You just won a hard-fought trial and obtained a money judgment against a corporate defendant. But how do you go about enforcing a judgement? You may need a collection lawyer…
Important Issues and Developments When Filing a Proof of Claim By Laura Davis Jones • April 7, 2022
Are you filing a proof of claim in a chapter 11 bankruptcy case? There are many risks and issues to be cautious of as a creditor filing a proof of…
An “Oldie,” But a Goodie: Recommended Reading On the Subject of ABCs By The DailyDAC Editors • March 10, 2022
What are your options when handling your distressed business? Pursing an Assignment for the Benefit of Creditors is one of your options. The DailyDAC Editors offer reading recommendations to fill…
Trade Tip #9: What is an “Adversary Proceeding”? By Hajar Jouglaf • March 2, 2022
An adversary proceeding is essentially the bankruptcy court’s version of a civil action to recover money or property (other than a proceeding to compel the debtor to deliver property to…
There Ought to Be a Law, and There Is: When the Insolvent LLC’s Manager Distributes Cash But Does Not Pay Creditors By Christopher M. Cahill • March 2, 2022
The borrower is an LLC managed by a greedy principal member. The borrower slowly pays the secured creditor and unsecured creditors over years and its business becomes insolvent. The insolvent…
What Constitutes the “Legal Rate” in a Solvent Debtor Bankruptcy Case? By Melanie L. Cyganowski • February 22, 2022
Defining the Legal Rate in a Solvent Debtor Bankruptcy Using Contract Rate and States’ Statutory Rates of Interest Chapter 11 bankruptcies generally find the debtor to be insolvent, but not…
Trade Tip #8: Critical Vendors By Hajar Jouglaf • February 21, 2022
A debtor may seek authority to pay claims incurred prior to the bankruptcy filing owed to "critical vendors" that supply goods and services by filing motions early in the bankruptcy…
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