In every insolvency or bankruptcy proceeding, there are winners and losers. Senior secured creditors are often paid in full while general unsecured creditors receive pennies on the dollar.
Typically, who gets paid and who...more
1/21/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Creditors ,
Denial of Certiorari ,
Due Process ,
General Motors ,
Insolvency ,
PBGC ,
Retirement Plan ,
SCOTUS ,
Unsecured Debt ,
Vested Benefits
Bankruptcy is a forum for the insolvent. However, financially healthy businesses and individuals are dragged into bankruptcy court against their will every day. The primary culprit is the adversary complaint filed by a...more