Section 303 of the Bankruptcy Code allows creditors to initiate an involuntary bankruptcy case against a debtor. The petition initiating the case must be filed by creditors holding claims aggregating to at least $10,000, and...more
Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more
On July 9, 2018, the U.S. Court of Appeals for the Seventh Circuit issued an important opinion raising the possibility that out-of-the-money junior creditors might be entitled to share in the proceeds of a free-and-clear...more
It is a basic feature of sales under section 363 of the U.S. Bankruptcy Code, that the purchaser takes free and clear of all claims and interests, such claims and interests attach to the proceeds of the sale in accordance...more