Equipment lenders often consider an out-of-court foreclosure as a fast and efficient way to recover collateral from a defaulting borrower.
Equipment Lenders Beware
Equipment lenders often consider an out-of-court foreclosure as a fast and efficient way to recover collateral from a defaulting borrower. The Second Circuit Court of Appeals has thrown a monkey wrench into the attractiveness of the foreclosure option, especially for those equipment lenders who foreclose on collateral with the goal of preserving value by operating the business until a strategic buyer can be located.
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