In a recent decision by the United States Court of Appeals for the Fifth Circuit in In re Denver Merchandise Mart, Inc., the court held that a lender's pre-bankruptcy acceleration of a promissory note arising from a borrower's nonpayment default did not trigger provision for a prepayment premium in the absence of an actual loan prepayment.
The Fifth Circuit Takes On the Issue of Prepayment Premiums
In a recent decision by the Fifth Circuit, the court held that a lender's pre-bankruptcy acceleration of a promissory note arising from a borrower's nonpayment default did not trigger provision for a prepayment premium in the absence of an actual loan prepayment.
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Brett D. GoodmanThis premium content is locked for LawJournalNewsletters subscribers only
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