Search for: "Debtors and Debtors in Possession"
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20 Jan 2021, 12:03 pm
Bankruptcy Code to authorize a debtor-in-possession or a trustee authorized to operate the business of a debtor to apply for and borrow a PPP loan (which is to be accorded the priority of an administrative claim), notwithstanding any contrary contractual restriction, prior prohibition under Section 363 of the Bankruptcy Code regarding use of cash collateral, or other law prohibiting the debtor from incurring additional debt. [read post]
20 Jan 2021, 10:59 am
Bankruptcy Code to authorize a debtor-in-possession or a trustee authorized to operate the business of a debtor to apply for and borrow a PPP loan (which is to be accorded the priority of an administrative claim), notwithstanding any contrary contractual restriction, prior prohibition under Section 363 of the Bankruptcy Code regarding use of cash collateral, or other law prohibiting the debtor from incurring additional debt. [read post]
20 Jan 2021, 6:48 am
In pertinent part, Section 362(a)(3) provides that “any act to obtain possession of property of the estate or of property from the estate or to exercise control over property of the estate” violates the automatic stay. [read post]
15 Jan 2021, 4:56 pm
The NRA as debtor in possession is a fiduciary for all of its creditors. [read post]
15 Jan 2021, 8:35 am
In oral arguments, the city framed the question in the case as “whether the Bankruptcy Code’s automatic stay requires a creditor in lawful possession of estate property when a bankruptcy petition is filed to return that property to the debtor immediately or else pay damages. [read post]
11 Jan 2021, 6:37 pm
The debtor-in-possession initially has the exclusive right to propose a Chapter 11 plan. [read post]
31 Dec 2020, 11:53 am
Eligibility for PPP Applicants in Bankruptcy The Act amends Sections 364, 503(b), 1191, 1225, 1325 of the Bankruptcy Code to enable a debtor-in-possession or trustee that is authorized to operate the business of a debtor to apply for and borrow a PPP loan, notwithstanding any contrary contractual restriction, prior prohibition under Section 363 of the Bankruptcy Code regarding use of cash collateral, or other law prohibiting the debtor from incurring additional… [read post]
31 Dec 2020, 11:43 am
Eligibility for PPP Applicants in Bankruptcy The Act amends Sections 364, 503(b), 1191, 1225, 1325 of the Bankruptcy Code to enable a debtor-in-possession or trustee that is authorized to operate the business of a debtor to apply for and borrow a PPP loan, notwithstanding any contrary contractual restriction, prior prohibition under Section 363 of the Bankruptcy Code regarding use of cash collateral, or other law prohibiting the debtor from incurring additional… [read post]
31 Dec 2020, 11:43 am
Eligibility for PPP Applicants in Bankruptcy The Act amends Sections 364, 503(b), 1191, 1225, 1325 of the Bankruptcy Code to enable a debtor-in-possession or trustee that is authorized to operate the business of a debtor to apply for and borrow a PPP loan, notwithstanding any contrary contractual restriction, prior prohibition under Section 363 of the Bankruptcy Code regarding use of cash collateral, or other law prohibiting the debtor from incurring additional… [read post]
23 Dec 2020, 3:30 pm
Justia’s US COVID-19 center provides an overview of key laws that were issued in response to the pandemic, such as the CARES Act, shelter-in-place orders, and protections for employees, tenants, taxpayers, and debtors. [read post]
23 Dec 2020, 6:43 am
You would not want to get the latter, because dismissals mean the debtors still owe their debts. [read post]
3 Dec 2020, 8:56 am
As such, the demand letter should include (1) the outstanding balance on the promissory notes (the amount owed, including interest), (2) the demand letter should provide the debtor with thirty days to dispute the debt, and (3) the demand letter should provide validity of the debt (usually by attaching a copy of the promissory note). [read post]
25 Nov 2020, 8:55 am
Attachment enables a creditor to obtain a court order directing the Sheriff to take possession of the debtor’s property to be applied to the judgment once judgment is entered. [read post]
21 Nov 2020, 5:50 am
In the wake of Texas' hemp statute, arrests for pot possession have fallen sharply statewide. [read post]
18 Nov 2020, 11:07 am
The role of a Subchapter V trustee is like that of a trustee in chapters 12 and 13, and a Subchapter V debtor remains in possession of assets and operates its business. [read post]
13 Nov 2020, 12:59 pm
Rockwell 20-499Issue: Whether a debtor may keep a state-law homestead exemption inside bankruptcy, notwithstanding that the proceeds would be subject to attachment and execution outside bankruptcy because the debtor sold the home and the exemption expired under applicable state law. [read post]
12 Nov 2020, 9:55 am
Some states receive unlimited homestead exemptions which permit a filer to protect any amount of home equity in their possession. [read post]
9 Nov 2020, 12:18 pm
End the Monetary Bond SystemBiden calls cash bail the “modern-day debtors prison” that disproportionately harms low-income people. [read post]
6 Nov 2020, 7:08 am
IRELAND Countries around the world are imposing further restrictions in light of the second wave of coronavirus cases with the Republic of Ireland having moved their restrictions policies into level 5 (their highest level), arguably adopting “Europe’s strictest regime” as Taoiseach (the prime minister of the Republic of Ireland), Mícheál Martin, said. [read post]
2 Nov 2020, 11:50 am
To what extent are Class C misdemeanors driving debtors-prison practices? [read post]
