Recently, Judge Jacqueline P. Cox in the U.S. Bankruptcy Court for the Northern District of Illinois issued an opinion which reviewed Seventh Circuit precedent in determining the appropriate rate of post-petition interest for unsecured creditors in Chapter 11 cases where the debtor is solvent. The legal implications of the Judge’s decision are interesting and worthy of […]
The bankruptcy case of the Spokane Country Club (“SCC” the “Club” or the “Debtor”) is a very interesting study of how the bankruptcy process has not only been used to disrupt the collection efforts of plaintiff creditors who have already been awarded a judgment, but also to essentially negate significant policy changes for a club that had been stipulated […]
A recent settlement agreement in the Mega RV Corp. (“Mega” or the “Debtor”) bankruptcy highlights the interplay between an overzealous lender and a repentant business owner who came together to cooperate and provide a windfall recovery to unsecured creditors. Mega RV was founded in 2000 by Mike McMahon as McMahon’s RV. The Debtor was in the […]