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Let's make a deal!(credit column)
To sell or not to sell your claim. That is often the issue confronting unsecured creditors in medium to large corporate bankruptcies. The buying and selling of claims is often referred to as "claims trading." This somewhat hidden and virtually unregulated market has evolved into a lucrative, billion dollar industry since the early 1990s. Its key players are banks, hedge funds, claims traders and other sophisticated vendors on the one hand, and lots of ordinary creditors on the other hand.
What Makes Trading Claims Against a Corporate Bankrupt Debtor So Attractive?
Why would a creditor sell its claim? Immediate access to cash, while lowering the risk of ...
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- Press release article from: PR Newswire June 8, 1998 700+ words
...trebling), including claims related to a previously...patents. K-C's claims in the Bankruptcy case, however, seek to...not infringe any valid claim of the asserted K...Commenting on the additional claims by P&G and K...
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- Newspaper article from: Knight Ridder/Tribune Business News October 14, 2003 700+ words
...2.5 million claim in Great Northern Paper's bankruptcy case, stating that...also have filed claims totaling hundreds...2.5 million claim, filed as part...the outstanding claims can be paid...comment on the claim because he hadn...
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...federal government entered claims in the long-term-care company's bankruptcy case totaling $1.3 billion...much of the unsecured claims the government will...government's overpayment claim. Government claims of fraud and overpayment...
- Association asks court to consider claims of truckers in bankruptcy case.
- Newspaper article from: News-Gazette (Champaign-Urbana, IL) October 30, 2005 700+ words
...Danville to consider the claims of truckers in dealing...creditors. "Without a bankruptcy case and an independent trustee...settle the companies' claims, countered it was best...settling Roberson's claims. But Fines denied a...supporting the creditors' claim, the Owner-Operator...
- Jore Corporation Announces Setting of Deadline for Filing Claims in Bankruptcy...
- Press release article from: Business Wire July 25, 2001 700+ words
...Court for the District of Montana, in which Jore's Chapter 11 bankruptcy case is pending, has set Aug. 31, 2001 as the "bar date", or deadline for filing a proof of claim against the Jore bankruptcy estate. Copies of the Court's Order...
- Claim Traders Beware: When Equitable Subordination Applies.(Enron Corp's...
- News wire article from: Mondaq Business Briefing January 30, 2006 700+ words
...credit agreement. The claims were subsequently transferred...separate entities (the claim purchasers). Following the transfer of the claims, and nearly two years...subordinate and disallow the claims held by the claim purchasers as a result...
- Claims Filed in Bankruptcy Case of California's First Alliance Mortgage.(Knight...
- Newspaper article from: Knight Ridder/Tribune Business News Berry, Kate April 10, 2000 700+ words
...several homeowners this week filed claims in bankruptcy court totaling...bankruptcy proceedings." The claims were filed Wednesday after borrowers...creditors. The amount of the claim puts them at or near the top...borrower. Of the borrowers' claims, William N. Lobel, First...
- Williams Files Claim in Pacific Gas & Electric Bankruptcy Case.
- Press release article from: PR Newswire August 31, 2001 700+ words
...Williams (NYSE: WMB) filed a proof of claim today in U.S. Federal Bankruptcy Court...Exchange Corp. Company officials said the claim reflects the maximum amount PG&...some material portion of the $591 million claim may be found to be the responsibility of...