The Edge: Reflections on Prepackaged Chapter 11 Bankruptcy Plans
- Topics:
- Bankruptcies,
- Case Management
- Tags:
- Bankruptcy,
- Business Operations,
- Creditor,
- Debtor,
- Litigation
- Source:
- Kohner, Mann & Kailas, S.C
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Overview: There is often the possibility that the 'expediency' of the 'packaging' will provide the creditors with less time and greater difficulty to fully evaluate and fully protect their interests. This risk materially increases if creditors do not seek competent bankruptcy counsel to help them "unwrap" the "package" and ensure that they will not be disappointed at what is "inside". The article mainly focuses or provides reflections on prepackaged Chapter 11 Bankruptcy Plans. These plans have been installed in order to resolve the varius issues relating to Bankruptcy. Once the debtor starts the bankruptcy case, the debtor may urge the trade creditor to continue providing credit under the same prebankruptcy credit line and term's. The debtor might seek to ease the concerns of the credit manager by predicting a prompt conclusion of the bankruptcy case and the assurance that the court requires timely payment of postbankruptcy credit.
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Format: HTML | Date: Jan 2003 | Pages: 1
