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Are You a Critical Trade Vendor That Merits Immediate Payment on Your Prepetition Claim?
An Update on the Necessity Doctrine
The faces of chapter 11 debtors are changing. Although "second chance" insolvent debtors will always clutter the court's docket, solvent debtors are also finding that bankruptcy law works to their advantage. These debtors seek protection for a variety of reasons that include posturing for a sale of the business, trimming unprofitable ventures or handling massive liabilities. For example, the reorganization of a dominant movie theater chain has been criticized for using bankruptcy law to trim leases and posture itself for a more profitable sale. Similarly, mass tort litigation offers another illustration of businesses, using ...
- Getting paid now and in full - in bankruptcy: the Necessity Doctrine in action.
- Magazine article from: Business Credit Blakeley, Scott Weilemann, Bill October 1, 1997 700+ words
...Bankruptcy: The Necessity Doctrine in Action ONE OF...finances. The Necessity Doctrine A fundamental principle...liquidation. The Bankruptcy Code is straightforward...labeled it the Necessity Doctrine. Under the doctrine...
- There is always a need: the "necessity doctrine" and class certification...
- Magazine article from: Michigan Law Review Tenny, Daniel March 1, 2005 700+ words
...however, often referred to as the "necessity doctrine." Many courts have declined to...against government entities. (7) The necessity doctrine has great geographical acceptance...circuits have permitted the use of the necessity doctrine. (8) A few circuits have accepted...
- Setoff of Debtor's Tax Overpayment Trumps Bankruptcy Code Exemption.
- News wire article from: Mondaq Business Briefing Massa, Rudolph Di August 16, 2006 700+ words
...Both the Internal Revenue Code and Bankruptcy Code (titles 26 and 11, respectively...of these setoff provisions and the Bankruptcy Code provisions involving exemptions from...could exempt under Section 522 of the Bankruptcy Code. Stearns highlighted the distinction...
- Treatment Of Customers And Financial Counterparties In Stockbroker Liquidations...
- News wire article from: Mondaq Business Briefing June 9, 2008 700+ words
...Protection Act of 1970 ("SIPA"),1 or (ii) chapter 7 of the United States Bankruptcy Code (the "Bankruptcy Code").2 Liquidation Under SIPA and the Bankruptcy Code in General Neither SIPA nor the Bankruptcy Code allow a broker-dealer...
- NextWave to keep licenses, Powell calls for bankruptcy code changes. (News).
- Magazine article from: RCR Wireless News Weaver, Heather Forsgren February 3, 2003 700+ words
...licenses as they are protected by the Bankruptcy Code. Powell said Congress created a conflict between the Bankruptcy Code and the Communications Act. On the one side, Congress passed the Bankruptcy Code protecting assets while an entity reorganizes...
- The Effect of the new Bankruptcy Code on Safe Harbor Transactions.
- News wire article from: Mondaq Business Briefing November 29, 2005 700+ words
...various provisions of the U.S. Bankruptcy Code, 11 U.S.C. s.s. 101-1532 (the bankruptcy code). All bankruptcy cases filed after...granted special protections under the bankruptcy code. For example, a party deemed to...
- Using the bankruptcy code as an acquisition tool.
- Magazine article from: Los Angeles Business Journal Apfelberg, Andrew M. May 9, 2005 700+ words
...shareholders. Thus, utilizing the Bankruptcy Code allowed a deal to happen in lightning...through utilizing Section 363 of the Bankruptcy Code to sell assets free and clear of liens...executory contracts. Section 365 of the Bankruptcy Code grants the debtor the power to reject...
- UCC 'Goods' Definition Applies To Section 503(b)(9) Of Bankruptcy Code.
- News wire article from: Mondaq Business Briefing August 13, 2009 700+ words
...under Section 503(b)(9) of the Bankruptcy Code, which grants such priority to claims...the existence of Section 366 of the Bankruptcy Code, which addresses the post-petition...for relief under Chapter 11 of the Bankruptcy Code. Before their bankruptcy filing...
Source: HighBeam Research, Are You a Critical Trade Vendor That Merits Immediate Payment on Your...