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Dechert LLP

US Bankruptcy Filing Limitations - How Far Can You Go?

Dechert LLP on

In order to file for bankruptcy, a corporate entity must be legally authorized to do so. Whether the bankruptcy petition has been duly authorized is governed by state law and often depends on the entity’s governance...more

Clark Hill PLC

Illinois Bankruptcy Court Nullifies Lender's Right To Block Debtor's Bankruptcy Filing

Clark Hill PLC on

Often, as part of a forbearance agreement, a lender will obtain a provision requiring its consent to any subsequently filed bankruptcy; the theory being that if the business debtor subsequently defaults under its restructured...more

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