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Secured Claims

Carve-out for unsecured creditors

90 Second Lesson: Carve-Outs for Unsecured Creditors

Like a professional fee carve-out, secured creditors may also agree to a carve-out for unsecured creditors to appease the court and creditors’ committee.

Order of Priority

Who Gets Paid First (and Second, Third, etc.) in Bankruptcy

Who makes the top of the list in the order of priority? See where you fall based on the absolute priority rule.

Recharacterization and equitable subordination as tools for altering order of priority of creditors

90 Second Lesson: What is the Difference Between Recharacterization and Equitable Subordination?

Although commonly used interchangeably, recharacterization and equitable subordination have different purposes and effects on order of priority of claims.

Can A Borrower File for Bankruptcy to Stop Foreclosure

90-Second Lesson: Can a Borrower File for Bankruptcy to Stop Foreclosure?

Explore whether a debtor can file chapter 11 reorganization bankruptcy to evade a court-ordered receivership.

What is Article 9 of the UCC

90 Second Lesson: What is a “UCC Article 9” Sale?

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.

14 The Secured Creditor’s Perspective About its Debtors

Dealing with Corporate Distress 14: The Secured Creditor’s Perspective About its Debtors

Let’s take a look at bankruptcy from the secured creditor’s perspective (they play a large role in a distressed business situation). Read about what a secured creditor should know when a business files for bankruptcy.

What to Consider When Selling a Bankruptcy Claim

What to Consider When Selling a Bankruptcy Claim

Why Sell a Bankruptcy Claim? Imagine this: One of your customers sends you a notice stating it has filed for chapter 7 or chapter 11 bankruptcy protection rather than the payment for goods or services provided that you were expecting. In technical terms, you now have a “claim” against the “debtor,” but you aren’t sure you want to deal with the bankruptcy process and delay only to recover part of what you are owed. When a bankruptcy claims purchaser offers to purchase your bankruptcy claim from you for cash, you […]

Dealing with Corporate Distress 10 All About “Claims” Outside Bankruptcy

Dealing with Corporate Distress 11: How to Protect Your Claim In & Out of Bankruptcy

A Series on the ABCs of ABCs, when it comes to claims there’s a plethora of them. From secured to unsecured, to bankruptcy and trade. Read all the basics in this installment of Dealing with Corporate Distress. This Installment covers how to protect you claim in a bankruptcy case.

Dealing With Defaults Under Article 9 of UCC A Player’s Guide for the 21st Century

Dealing With Defaults Under Article 9 of UCC: A Player’s Guide for the 21st Century

What are the legal remedies available under Article 9 of the UCC to a lender whose loan is secured by the personal property of a borrower who is in default? How can these legal remedies can be implemented in practice?

What do Secured Lenders Want? The Basics of Loan Forbearance Agreements

When a borrower defaults on its loan agreements, a lender may, among other options, sue to foreclose on its collateral and collect from the borrower. The lender, however, may instead agree to amend the loan documents or enter into a loan forbearance agreement. If the borrower can convince the lender that, within a reasonably short time, it can cure the defaults and perform or observe such new conditions as the lender may require in exchange for waiting, a loan forbearance agreement memorializing such new arrangements may be entered into by […]

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