Bankruptcy Preference Creditor's Digest
Attorneys Defending Bankruptcy Bankruptcy Preference Claims Nationwide: 888.547.5170
Materials listing for bankruptcy creditor rights
GM Bankruptcy – For Suppliers Chrysler Bankruptcy Lesson 1
(Update: Since the original post date we have added two additional posts on the GM Cure Cost Procedure and the Supplier Objections that were filed to GM Cure Costs. Please Click the preceding link to see those posts.)
The Chrysler bankruptcy taught suppliers several lessons. Lesson 1 - SUPPLIERS, BE READY TO CONFIRM THE CURE [...]
Chrysler LLC Bankruptcy – Supplier Contract Cure Costs Horrors
A scanning of the “Cure Costs” objections shows a brewing mess that might hamper (depending on how the various objections are handled by the judge) the planned speedy sale to new Chrysler. Whether the extent of the problems raises a red flag for Fiat has yet to be seen. For any Merger and [...]
Sample Motion for Allowance of Administrative Expense Claim Pursuant to 11 U.S.C. Section 503(b)(9)
We have included a simple sample of Motion for Allowance of Administrative Expense Claim Pursuant to 11 U.S.C. Section 503(b)(9). You can access this sample by clicking the preceding link.
We stress that this is a sample and a simple one at that. There are several ancillary provisions that could be included depending upon [...]
Bashas’ and its Secured Lenders Find Something they Agree on: We Need An Accountant!
During the three weeks following the date of its bankruptcy, Bashas’ has locked horns with its secured lender group (a consortium including Compass Bank, Wells Fargo and BankAmerica) on numerous matters – all substantive and all important for Bashas’ prospects. They finally have found an issue on which they agree – they all want to [...]
Chrysler LLC Bankruptcy – 21 First Day Motions
Chrysler LLC has filed 21 first day motions and the Affidavit of Ronald E. Kolka in Support. The motions include one critical vendor motion to authorize payment of certain pre-petition claims of suppliers (Item 16). (Click this link for a follow up posts on the Chrysler first day motions) The first day motions are:
Bashas’ Makes Good on Announced Plans to Shutter Fifteen Stores; What Does this Mean to Suppliers?
Prior to filing its bankruptcy reorganization proceedings on July 12, 2009, Bashas’ announced its intention to close unprofitable stores. Bashas’ now has followed through and requested bankruptcy court authorization to reject fifteen store leases. Bashas’ election to reject these unexpired leases, coupled with the extent to which it rejects additional store leases, serves as a [...]
Visteon Bankruptcy – First Day Motions
Visteon Corp. has filed 13 first day motions and the Affidavit of Willaim G. Quigley, III, Chief Financial Officer in Support. The motions include one critical vendor motion to authorize payment of certain pre-petition claims of suppliers. (Item 4 Below) The first day motions are:
Grede Foundries – First Day Bankruptcy Motions Offer Suppliers No Relief
Grede Foundries has filed 10 first day motions (3 procedural and 7 substantive). The 7 substantive motions are listed below. The one of special interest is item 6, which deals authorization of Grede to enter into accomodation agreements with customers. The presence of these agreements in an automotive supplier bankruptcy is a pretty good indication [...]
Six Flags Bankruptcy – First Day Motions Docket and Affidavit
The Six Flags Agenda for First Day Hearing looks straight forward enough. The first day motions reveal nothing startling. But when you read the Affidavit of Jeffrey Speed in Support of First Day Pleadings (the “Speed Affidavit”), you get the sense that this bankruptcy has the potential to have twists and turns rivaling [...]