Because of the injunction that begins as soon as a debtor files for Chapters 7, 11 or 13 bankruptcy – called the automatic stay – creditors and collection agencies are prevented from seeking payment from the debtor....more
10/27/2021
/ Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Preferences ,
Chapter 11 ,
Chapter 13 ,
Chapter 7 ,
Construction Contracts ,
Construction Industry ,
Construction Project ,
Creditors ,
Defense Strategies ,
Mechanics Lien ,
Secured Debt
Construction industry members — including owners, developers, contractors, subcontractors and supply chain vendors — have experienced varying degrees of impacts as a result of the COVID-19 pandemic. The nature of the impacts...more
The Illinois First District Appellate Court recently addressed the longstanding principle in A.A. Conte Inc. v. Campbell-Lowrie-Lautermilch Corp., 132 Ill. App. 3d 325 (1st Dist. 1985), of barring payments by general...more