Times and mores are changing. More and more people and more and more states have de-stigmatized and legalized (in at least some respects) marijuana use, sales and cultivation. As the marijuana “industry” expands, and however unlikely it may seem, a marijuana business could run into creditor problems just like any other. In fact, this has happened already. Locally […]
The Skinny The Sixth Circuit recently revived a trustee’s $17 million avoidance and claw-back suit against a lender, finding that the lender’s existing security interests could have been extinguished via novation. Impact: secured lenders entering into amended and restated loan documents should adopt definitive and irrefutable language demonstrating that the parties do NOT intend for the new […]
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 […]
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