Tag Archives: creditor’s rights

Countering Strategic Default

April 19, 2014

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Recently, news outlets across the country reported that government mortgage lenders Fannie Mae (FNMA) and Freddie Mac (FDMC) may soon be taking more aggressive legal steps against debtors who carry out a strategic default on their mortgage loans. Strat…

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Bankruptcy Basics: The Chapter 11 Reorganization Plan

December 27, 2013

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In a Chapter 11 business bankruptcy, a debtor decides to restructure or reorganize.  The debtor is permitted to continue running the business as “debtor in possession.”  Whether, and in what financial condition, the debtor and the business might emerge from bankruptcy depends on the success of the reorganization plan, which must be approved by the […]

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Creditors and Intellectual Property

December 25, 2013

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Intellectual property (IP) can be defined as the product that results from the use of intellectual capacity. Some recognizable examples of IP include: A specific recipe, pattern, device or formula, including copyrights, patents, trademarks Other proprietary information (“trade secrets”) vital to the success of the company that possesses it Within bankruptcy proceedings, the role and […]

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Creditors Set To Vote On Patriot Coal Bankruptcy Exit Plan

December 4, 2013

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Patriot Coal Corp. announced that it is currently on pace to emerge from protection under Chapter 11 of the bankruptcy law by the end of the year. The announcement follows a U.S. Bankruptcy Court’s ruling approving the company’s disclosure statement and allowing the company to solicit votes from its various classes on creditors on the […]

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