Creditors Rights

Individuals contemplating bankruptcy can engage in pre-bankruptcy planning, but within limits.

A recent federal court decision offers a stark lesson for lenders about the automatic stay, adequate protection, and the use of cash collateral.

Discover how the new Uniform Assignment for Benefit of Creditors Act (UABCA) modernizes state-law assignments as an alternative to bankruptcy, strengthening creditor protections and providing clarity for distressed business liquidations.

When a federal court appoints a receiver, it initiates a complex process that sits at the intersection of litigation, forensic accounting, and equitable justice.

When your borrower files bankruptcy, choosing to cooperate can lead to a more successful restructuring or sale. Here’s how to protect yourself if you do.

The utilization of LMTs, including the use of private credit, in recent restructurings, and the potential role of AI, could permanently change the game of negotiating credit agreements.

Don’t Panic When a client or a competitor files for bankruptcy, it is natural to reflect on the downside. What’s going to happen to my outstanding receivables? Is the market primed for a downturn? How am I going to replace any lost business? These concerns are very real and require meaningful thought and discussion. However, solely focusing attention on the downside can prove short-sighted. There are incredible opportunities in bankruptcy for the astute businessperson. Opportunities in Action Imagine for a moment that you are the chief executive officer (CEO) of […]

Lender-on-lender violence has been noted more in recent news, and have been increasingly used in out-of-court restructurings in recent years including during the COVID-19 pandemic.

An Article 9 sale allows a creditor to sell its collateral to a third party in a private or public sale without the need for judicial proceedings.

The Sixth Circuit would quote Ohio case law to explain that “A contract of novation is created where a previous valid obligation is extinguished by a new valid contract, with the consent of all the parties, and based on valid consideration.” In a sense, a novation establishes that the prior contract is fully performed by the novated contract.