Waivers Of Bankruptcy Protections Contained In Workout Agreements
- Topics:
- Reporting and Control
- Tags:
- Agreement,
- Bankruptcy,
- Bankruptcy Protection,
- Business Operations,
- Debtor,
- Fredrikson & Byron P.A.,
- Litigation,
- Waiver,
- Workout Agreement
- Source:
- Fredrikson & Byron P.A.
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Overview: The article says that when it is clear that the essential deal is additional time or other concessions to the debtor in exchange for an agreement not to file bankruptcy. It may be useful to make that situation clear in the workout agreement and also to provide carefully considered stipulations concerning the facts (i.e., the property value, the amount of time, which the debtor has been looking for a new buyer, etc.). In those circumstances, waiver provisions may have some real value to the secured creditor in later attempts to enforce the bargain struck in the workout agreement. Read to know about the waivers of bankruptcy protections contained in workout agreements
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Format: HTML | Date: Dec 1997 | Pages: 1
