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Bankruptcy Petition

File Early and Often: Filing and Amending Claims in a Bankruptcy Case

A Primer for Those Holding Bankruptcy Claims Against a Debtor Bankruptcy claims do more than simply determine the amount of money a creditor is owed or can receive as a distribution. Claims also can generate clout. Clout enables a creditor to sit on a creditor committee, have more leverage in negotiations, and claim a higher-priority […]


Location, Location, Location – Where to File Bankruptcy

The Hows and Whys of Which Bankruptcy Venue to Choose Are you confused where to file bankruptcy? Do you wonder why you should file a bankruptcy case here instead of there? An entity, and more so a group of entities, may be legally permitted to file for bankruptcy in any one of a number of […]


When Your Customer Files for Bankruptcy

You Still Have Options In the Event of a Customer Bankruptcy When a customer files for bankruptcy, vendors with debts owed by the customer/debtor that arose before the commencement of the case (the “Petition Date”) can be exposed to considerable losses. Once the case is filed, the vendor becomes a creditor with a claim against […]


90 Second Lesson: I’ve been asked to sign an involuntary bankruptcy petition. Should I?

QUESTION: The credit manager of an Akron-based company wrote, asking this: “One of our commercial accounts is pretty far behind in paying on our invoices. Another vendor approached me and asked me to join in signing an involuntary bankruptcy petition. Is there any legal risk in doing this? ANSWER: In a word, yes. If an […]


When Your Borrower Files for Bankruptcy (DIP Financing, Cash Collateral, and Adequate Protection)

What you need to know as a secured lender to a borrower who goes into bankruptcy you should know already, well in advance. If your borrower’s bankruptcy filing has taken you by surprise, please refer to my next article in this series, in which I will discuss the tactics and strategies in the contested case […]


Getting Over the Scariness of Filing an Involuntary Bankruptcy Petition

Mention involuntary bankruptcy to many in the credit industry and you often get a sharp response:  no way.  Decisions that have awarded punitive damages to debtors have received broad attention.  Trying to collect on a bad loan is tough enough.  Why compound the struggle by giving the debtor the claim that an involuntary filing was […]


Assessing Potential Return – When the PBGC Files a [Huge] Claim in a Bankruptcy Case

What should interested parties in a bankruptcy case monitor when the Pension Benefit Guaranty Corporation (PBGC) files a claim in the case as an unsecured creditor? When a company that has filed a petition in bankruptcy sponsors the type of pension plan insured by the PBGC, it is more likely than not that the pension […]


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