Search for: "Debtors and Debtors in Possession"
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28 Mar 2019, 6:19 am
The panel stated that the Bankruptcy Code gives the Trustee or debtor in possession the rights of a hypothetical lien creditor, and that this, in combination with Illinois’ protection for unwitting third parties, would prevent the original creditor from regaining their senior position only if the mistakes were not caught until after the bankruptcy proceeding was closed. [read post]
17 Dec 2013, 7:35 am
Second, rejection of a trademark, service mark, or trade name license would not relieve the trustee (or presumably a debtor in possession in a Chapter 11 case) of the debtor's contractual obligations to monitor and control the quality of a licensed product or service. [read post]
22 Jul 2014, 12:23 pm
§ 108(a) extends only to trustees and debtors-in-possession. [read post]
17 Aug 2010, 6:00 am
In a small business case, the debtor in possession must, among other things, attach the most recently prepared balance sheet, statement of operations, cash-flow statement and most recently filed tax return to the petition or provide a statement under oath explaining the absence of such documents and must attend court and the U.S. trustee meeting through senior management personnel and counsel. [read post]
24 Nov 2023, 11:59 am
For instance, if a creditor has already obtained a judgment of possession for a property, the automatic stay will not reverse that judgment. [read post]
21 Apr 2020, 2:54 pm
The landlord can then take back possession of the premises for purposes of re-leasing the premises, and may also assert a claim in the bankruptcy for damages resulting from the lease termination. [read post]
21 Apr 2020, 2:54 pm
The landlord can then take back possession of the premises for purposes of re-leasing the premises, and may also assert a claim in the bankruptcy for damages resulting from the lease termination. [read post]
21 Apr 2020, 2:54 pm
The landlord can then take back possession of the premises for purposes of re-leasing the premises, and may also assert a claim in the bankruptcy for damages resulting from the lease termination. [read post]
11 Sep 2012, 8:20 pm
While the initial shock of losing some cherished possessions is disquieting for some debtors, many appreciate the cut-and-dried cleanliness of a straight bankruptcy. [read post]
13 Jul 2010, 6:04 am
The report is filed by the debtor in possession who assumes the role of a trustee and is responsible for the restructuring of the business. [read post]
20 Oct 2011, 5:48 pm
Debtor in possession--In some Chapter 11 cases, the petitioner can remain in charge of the estate as a "debtor-in-possession. [read post]
31 Aug 2010, 7:18 am
Often, creditors whose loans are secured by property are permitted to take possession of that property. [read post]
28 May 2013, 7:34 pm
The gist is that depending on the judge the debtor may lose possessions. [read post]
14 Nov 2006, 5:43 pm
Such a plan often allows the debtor in possession to liquidate the business under more economically advantageous circumstances than a chapter 7 liquidation. [read post]
18 Jun 2010, 7:26 am
Section 365(c)(1) of the Code generally prohibits a debtor from assuming or assigning an executory contract or unexpired lease if “applicable law excuses a party, other than the debtor, to such contract or lease from accepting performance from or rendering performance to an entity other than the debtor or the debtor in possession, whether or not such contract or lease prohibits or restricts assignment of rights or delegation of duties. [read post]
7 Feb 2014, 7:24 pm
The debtor retained possession or control of the property transferred after the transfer; c. [read post]
18 Jun 2010, 7:25 pm
The debtor loses something only if the judgment creditor identifies property or possessions of the debtor that it can have the county sheriff sell. [read post]
3 Jan 2007, 1:12 am
§ 362(a): 1) the commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under this title, or to recover a claim against the debtor that arose before the commencement of the case under this title; (2) the enforcement, against the debtor or against property of the estate, of a judgment… [read post]
14 Jan 2023, 9:18 am
In Chapter 11, the debtor usually remains in possession of his assets and continues to operate any business, subject to the oversight of the court and the creditors committee. [read post]
3 Jan 2008, 11:06 pm
Bankruptcy Code section 547(b) allows a bankruptcy trustee or debtor-in-possession to avoid this payment, if the transfer was to or for the benefit of a creditor on account of an antecedent debt while the debtor was insolvent. [read post]
