Administrative Freeze and Setoff: Don't Delay!

Topics:
Regulatory issues
Tags:
Bank,
Bankruptcy,
Business Operations,
Financial Services,
Litigation,
Reed Elsevier Inc.
Source:
Reed Elsevier

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Overview: When a borrower with a checking account seeks bankruptcy relief, a bank may be tempted to "give it a while" to see what proposal the borrower-debtor makes for loan repayment. A bank in New Jersey recently learned that such delay does not pay!

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Format: HTML | Date: Dec 2003 | Pages: 1

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