On June 17, 2020, the United States Bankruptcy Court for the District of Delaware, one of the nation’s busiest bankruptcy courts, announced the resumption of limited in-person, on-site hearings in critical cases and subject...more
When a debtor defaults on a loan secured by personal property, the secured lender has several options for repayment. One option is to sell the collateral securing the debt pursuant to Article 9 of the Uniform Commercial Code...more
6/3/2015
/ Article 9 ,
Buyers ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Default ,
Foreclosure ,
Loans ,
Personal Property ,
Rebuttable Presumptions ,
Remedies ,
Sale of Assets ,
Successor Liability ,
Uniform Commercial Code (UCC)
In recent years, companies in financial distress have found “independent” directors to be useful to achieve protections for their board members. An independent director is a director – usually with no prior affiliation to the...more
Action Item: When a secured loan is being paid off, lenders routinely authorize the borrower’s counsel to prepare and file UCC termination statements releasing the lender’s security interest in the borrower’s property. ...more
The decisions by the Bankruptcy Court for the District of Delaware in In re Fisker Auto. Holdings, Inc., and the Bankruptcy Court for the Eastern District of Virginia in Free Lance-Star Publ'g Co., have sparked discussions as...more