How the Bankruptcy Act of 1994 affects secured creditors and mortgagees in business cases
Article Abstract:
Real estate mortgagees who are business debtors' creditors and secured creditors will be affected by various provisions of the 1994 Bankruptcy Reform Act, enacted on Oct 22, 1994. Some of the provisions include the requirement that a relief hearing must be concluded within the 30 day limit rather than just begun, the removal of bankruptcy protection from claims attempting to avoid foreclosure, and that debtors may return goods to creditors if authorized by the court. Other provisions are detailed.
Publication Name: Uniform Commercial Code Law Journal
Subject: Law
ISSN: 0041-672X
Year: 1995
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Balancing equities to determine the rights of an unauthorized postpetition secured lender
Article Abstract:
The US Court of Appeals for the 9th Circuit ruled in In re McConville that a lender who did not know of a creditor's bankruptcy filing should receive equitable remedy. The court rejected both the arguments of the bankruptcy trustee and the lender, stating that mere lien creation did not constitute a property transfer under Bankruptcy Code section 549. Instead, the court stated the lender should receive a lien equal to the amount that would restore them to where they were before extending credit.
Publication Name: Uniform Commercial Code Law Journal
Subject: Law
ISSN: 0041-672X
Year: 1997
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Who benefits from postpetition appreciation of collateral? Bankruptcy Court adopts a flexible approach for timing valuation of secured claims in a bankruptcy case
Article Abstract:
A Bankruptcy Court has taken a flexible approach to choosing the valuation date of secured claims, using the filing date but leaving open the possibility of different dates for future cases. Instead of a bright line test, the court noted 11 factors to consider for fixing the date. The case, In re Wood, was a Chapter 11 bankruptcy by a homeowner. Residential property had increased in value due to a limited commercial zoning changeover.
Publication Name: Uniform Commercial Code Law Journal
Subject: Law
ISSN: 0041-672X
Year: 1996
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