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The risks of a single creditor involuntary bankruptcy petition; tread extra carefully!(Column)
A trade creditor that has a claim against a financially troubled company might be tempted to join in filing an involuntary petition against the company. A grand way to "stick it" to the debtor? That creditor should think twice and proceed very cautiously. The requirements for an involuntary bankruptcy filing, contained in Bankruptcy Code Section 303, are not easy to satisfy. A creditor that precipitously joins in filing an involuntary petition, without undertaking the appropriate factual investigation, may face an unanticipated large damage claim if the bankruptcy court dismisses the petition.
An involuntary petition filed by a single creditor is a particularly ...
- "Bad faith" and involuntary bankruptcy filings.
- Magazine article from: Business Credit Blakeley, Scott October 1, 1996 700+ words
...to file an involuntary petition. The longer...for a valid involuntary bankruptcy filing...Examine Involuntary Petition Criteria...examine the involuntary petition criteria...filing an involuntary bankruptcy petition...
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- Magazine article from: Business Credit Wolpert, Ira C. April 1, 1996 700+ words
...Before the involuntary petition was filed, the...filing of the involuntary petition. Significantly...counsel to file the involuntary bankruptcy petition and...Landmark The involuntary petition, when filed...
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...unsecured creditors to file an involuntary bankruptcy petition against Coram...Healthcare Corporation. The involuntary petition was filed in the United...Coram creditors filed the involuntary bankruptcy petition only after discussions...
- When filing an involuntary bankruptcy petition makes sense.
- Magazine article from: Business Credit Chek, Larry October 1, 1995 700+ words
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- Involuntary bankruptcy petition upheld: media providers' claims against...
- Magazine article from: Business Credit Nathan, Bruce S. June 1, 2006 700+ words
...requirements for an involuntary bankruptcy, contained...joining an involuntary petition should tread...part of the involuntary bankruptcy petition filed...dismissal of their involuntary petition? The court...defeat their involuntary bankruptcy ...
- Involuntary Bankruptcy Petition for Sun Country Airlines Moves to Minnesota.
- Newspaper article from: Knight Ridder/Tribune Business News January 24, 2002 700+ words
...bankruptcy protection as it won approval to move an involuntary petition filed by its creditors to Minnesota from Delaware...insolvent carrier's aircraft lessors filed an involuntary bankruptcy petition early this month in Delaware, asking...
- Pengo Industries Inc. converts involuntary bankruptcy proceeding into voluntary...
- Press release article from: PR Newswire December 21, 1988 700+ words
...INC. CONVERTS INVOLUNTARY BANKRUPTCY PROCEEDING INTO...divisions. The Involuntary Petition was filed on...events since the involuntary bankruptcy was filed Pengo...date for the involuntary petition had been extended...
Source: HighBeam Research, The risks of a single creditor involuntary bankruptcy petition; tread...