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.
employee creditors in circumstances where the
secured creditor has
If the
secured creditor can't raise enough cash, which is a real risk, you're taking out of the marketplace one of the most knowledgeable parties of the property.
The reality of the current climate is that for the majority of the businesses that are facing financial hardship, control vests with the
secured creditors.
The failure of the insured to name the
secured creditor on the policy, as required by the contract between the parties, did nor extinguish the
secured creditor's interest in the property or impair its status as an equitable lienholder.
The
secured creditor also can foreclose on a property or purchase a property at a foreclosure sale without CERCLA liability, so long as it holds the property temporarily.
So, if you are in default under your secured loan but your reorganization plan pays to the
secured creditor the present value of his claim in a reasonable time period, the Bankruptcy Code allows you to cure the default and continue to use your pledged assets.
TO), one of Truland Group, Inc's largest
secured creditors, is looking to recoup as much of the losses as possible from its deal with Truland, a failed contractor.
In RadLax, the Seventh Circuit allowed a
secured creditor the right to bid its claim, in other words, the amount of debt owed, in lieu of a cash bid as part of a plan confirmation process.
A
secured creditor generally takes priority over other creditors.
The proposed rule removes much of the uncertainty facing lenders by interpreting the scope of the
secured creditor exemption to the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), commonly known as the Superfund law.
