Search Results for: "DIP Loan"
[Editor’s Note: This article was originally published on LinkedIn on September 20, 2020.] There has been a significant uptick in the number of articles appearing in mainstream media (e.g. newspapers) about the wave of bankruptcies that has already started to appear. One article (linked here), authored by Matt Egan for CNN Business and published about a week ago, caught my particular attention. It is well-written but there were a few things about it that were wrong or, at least, not entirely right. And, so here I am with my thoughts… In […]
Below is a list of DailyDAC’s recent Distressed Asset Central Weekly newsletters. Is Bankruptcy Needed if Creditors Will Just Agree to Take Less? Sent on February 27, 2024 Demystifying Administrative Expenses in Bankruptcy Sent on February 20, 2024 When a Seller of Real Property Files for Bankruptcy Before Closing Sent on February 13, 2024 Subchapter V of Chapter 11: A User’s Guide Sent on February 6, 2024 Determining Value – Choosing a Business Appraiser Sent on January 30, 2024 Personal Property Appraisals 101 Sent on January 23, 2024 Reviewing Restructuring: […]
A written tour of business bankruptcy and its alternatives. If you would like to read from the beginning, this series started here with a broad overview of business bankruptcy. Most recently, the series has focused on the automatic stay, where you can find the 30,000-foot view. Or you can find more specific treatment here, here and here. In this installment, we give a crash course from a particular perspective – the unsecured creditor. When a debtor files for bankruptcy, creditors hold different types of claims or interests against the debtor’s estate. Generally, […]
A written tour of business bankruptcy and its alternatives Our prior installment discussed some of the basic things a secured creditor needs to know about Chapter 11. The automatic stay was one of them. But, since we like to keep these things short (on the presumption that others also have short attention spans) we didn’t say all we want to say on the topic (in fact, this installment won’t satiate us either and we will continue to explain other aspects of the automatic stay in future installments). For now, we […]
Upon the filing of a chapter 7 or a chapter 11 petition, a bankruptcy case starts. With that start, a stop (or “stay”) is automatically imposed on creditor actions to collect debts from debtor or to control its property or operations – except within the bankruptcy case. The foreclosure action, the collection calls, the post-judgment collection efforts, the perfection of security interests, and the acts to replace management per loan documents or bond indentures – all must cease. If they do not, a debtor or trustee may seek relief (injunction, […]