The requirement for a secured creditor
to give ten days notice to a debtor prior to enforcement may imperil the security.
Under Revised Article 9 of the Uniform Commercial Code, which will take effect in many states on July 1, 2001, a secured creditor
can perfect a security interest in a certificate of deposit by either taking possession of the CD or filing a UCC financing statement.
Under a marshaling theory, where a senior secured creditor
such as CIT could collect its claim against more than one property or fund held by the Debtor and a junior secured creditor
(which Galey asserted it was as a result of its reclamation claim) can proceed against only one of those sources, the senior secured creditor
(CIT) could first be compelled to collect amounts owned to it from the property or fund in which the junior secured creditor
Once the collateral has been attached, the secured creditor
needs to perfect the security interest.
Privately-appointed receivers serve the secured creditor
that appointed them and will deal with assets covered by the loan agreement.
If the value of the property is more than the claim, the liquidator may also convey the property to the secured creditor
in payment of the claim but, in turn, the secured creditor
must deliver the excess amount to the liquidator.
The sale of Urologix's operating assets was contemplated by a forbearance agreement entered into with the secured creditor
on 7 December 2015.
PPSA'), a secured creditor
usually held either a fixed or
You're depriving a secured creditor
the opportunity to hold onto an asset if he believes the asset is being undervalued," said Justice Samuel Alito.
These statistics show that the administration process is much preferred mainly because secured creditors
determine the process in contrast only a small percentage of CVAs work through successfully.
Bankruptcy Code, which was originally filed July 21, 2000, when a planned sale of 1,000 acres it owned at Maumelle fell through and a secured creditor
sought to foreclose on the land.
Those receivables, which are needed to operate on a day-to-day basis, will be available only if the secured creditors
agree, or in the absence of an agreement with a secured creditor
, if the Court is satisfied that the secured creditors
can be granted adequate protection The success or failure of this issue can torpedo a Chapter 11 proceeding.