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6 May 2010, 5:07 am
However, courts interpreting 546(c) have generally adopted the definition set forth in Article 2 of the UCC, which provides that "receipt" means "taking physical possession.”  [read post]
21 Dec 2010, 11:39 pm by Randall Reese
GautierEmergency Motion Of Debtor-In-Possession For Order Authorizing Debtor To Honor Certain Prepetition Obligations To Customers And To Otherwise Continue, In The Ordinary Course Of Business, Customer Programs And Practices; Memorandum Of Points And Authorities In Support ThereofEmergency Motion Of Debtor-In-Possession For Order Authorizing Debtor To Pay Administrative Expenses To Vendors Pursuant To 11 U.S.C. 503(b); Memorandum Of Points And… [read post]
21 Dec 2010, 11:39 pm by Randall Reese
GautierEmergency Motion Of Debtor-In-Possession For Order Authorizing Debtor To Honor Certain Prepetition Obligations To Customers And To Otherwise Continue, In The Ordinary Course Of Business, Customer Programs And Practices; Memorandum Of Points And Authorities In Support ThereofEmergency Motion Of Debtor-In-Possession For Order Authorizing Debtor To Pay Administrative Expenses To Vendors Pursuant To 11 U.S.C. 503(b); Memorandum Of Points And… [read post]
15 Feb 2012, 12:00 am
  The lender cannot take possession of assets to satisfy the debtor's obligation. [read post]
30 Apr 2024, 7:58 am by Richard West
This includes checking and savings accounts, investments, retirement accounts, real estate properties, vehicles, and any other valuable possessions. [read post]
4 Jan 2012, 3:40 pm by Phil
The following is excerpted from a January 4, 2012 article by Larry Dignan of ZDNet: According to the Wall Street Journal, Kodak is looking for US$1 billion in debtor-in possession financing, which keeps companies running in a restructuring, with the idea that it would sell its 1100 patents in an auction. [read post]
16 Apr 2010, 7:41 am by Kenneth Vercammen NJ Law Blog
Heirs and devisees liable for debt of decedent Every creditor, whether by simple contract or specialty, and whether or not the heirs or devisees are mentioned therein, shall have and may maintain by virtue of this article an action against the heirs and devisees of his deceased debtor dying seized or possessed of any real or personal property. [read post]
17 Oct 2020, 1:41 pm by Cathy Moran
While Chapter 7 is called a liquidation proceeding, most filers have no equity in their possessions or those possessions are protected by an exemption. [read post]
12 Dec 2009, 6:14 pm by Pamela Pengelley
The Notice explains to the garnishee that they must pay to the Sheriff the money (or property) in the garnishee’s possession owing to the debtor up to the amount set out in the Notice of Garnishment. [read post]
21 Apr 2023, 5:40 am by Edelboim Lieberman Revah PLLC
In actual fraud cases under Section 548(A), factors that can be used to prove a fraudulent conveyance include (but are not limited to): The debtor transfers all, or substantially all, of its assets; The debtor is facing actual or threatened litigation at the time of the transfer; The debtor retains possession or control of the asset despite the transfer of ownership; The debtor transfers the assets to a newly-formed business entity; and/or, The… [read post]
24 Aug 2023, 9:37 am by Edelboim Lieberman Revah PLLC
Depending on the jurisdiction and the nature of the property seized, the property may be sold with the proceeds subsequently distributed to the judgment creditor, or the judgment creditor may have the option (or the obligation) to take possession of the property directly. [read post]
4 Sep 2014, 8:00 am by Nicholas Gebelt
Ga. 1997) (observing that “[t]he operative phrase in section 1325(a)(5)(C) does not end with the word `property’ but continues with the words `to such holder,’ making it plain that a debtor must at least tender possession or control of the collateral to the creditor[.] [read post]
11 Apr 2022, 3:45 am by NWDRLF
Trustee examines the debtor-in-possession’s responsibilities and restrictions, explains the quarterly fees and monthly operating reports, and generally discusses the debtor’s financial situation and the breadth of the anticipated plan of reorganization. [read post]
11 Jul 2021, 4:22 pm by Norma Duenas
[W]hether the debtor physically occupies the property or not, the debtor must have an intention to reside there. [read post]
20 Feb 2008, 11:56 pm
The motion is opposed by the developer, now a Chapter 11 debtor in possession, as well as the official committee of unsecured creditors and junior lienholders. [read post]
16 Mar 2012, 12:20 pm by Timothy P. Flynn
  While the billboards I see proclaiming, “lose the debt, keep your stuff”, are rather extreme, this proclamation is more accurate than the misconception that the bankruptcy court takes all your possessions. [read post]
5 Aug 2007, 4:59 am
Furthermore as noted in Marrama, even if section 105(a) had not been enacted, every federal court possesses the inherent power to sanction abusive litigation practices which may provide an adequate justification for a remedy when faced with a debtor's active misconduct to take advantage of the bankruptcy systems for improper purposes as occurred in Marrama and has occurred in the case before the court. [read post]
22 Jun 2012, 12:51 pm
 The court shot down the debtor's actions and held the entities to be no more than nominees of the debtors. [read post]