The old adage “use it or lose it” applies at every stage of a Chapter 11 case. In the interest of finality, strict deadlines for filing claims, opposing motions, assuming leases, and performing myriad other tasks can impose onerous consequences on parties who fail to heed them.
Creditors' Rights in Chapter 11: Use Them or Lose Them
The old adage "use it or lose it" applies at every stage of a Chapter 11 case.Nowhere is this seemingly harsh ' but essential ' reality more evident than in the ongoing saga of a group of three holders of gift cards, totaling $225.00 in value, issued by the now-defunct Borders bookstore chain.
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Bruce Buechler And Andrew BehlmannThis premium content is locked for The Bankruptcy Strategist subscribers only
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