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The Bankruptcy Code encourages service and good suppliers to continue to do business with a company in Chapter 11 by providing that amounts owed for post-petition services and deliveries are eligible to receive administrative claim status if they provide a benefit to the estate, meaning that their claims are paid in full before pre-petition unsecured claims. But how is administrative claim status obtained in a bankruptcy case, and what risks does a service or goods supplier take by continuing to do business with the debtor after commencement of the bankruptcy case?
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By Steven B. Smith and Rachel Ginzburg
If you think public policy favoring the freedom to file a Chapter 11 trumps the freedom to negotiate specific restrictions to such a filing, think again.
By Joseph Pack and Jessey Krehl
With federal student loan forbearance set to expire at the end of September, many hoped the high court would provide, if not clarity, at least uniformity for the millions of Americans who currently are on the hook for student loans.
By Rudolph J. Di Massa Jr. and Keri L. Costello
In In re Bryant, the U.S. Bankruptcy Court for the Middle District of Georgia determined that a lender’s UCC-1 financing statements were “seriously misleading” under the Georgia Commercial Code because the financing statements identified the individual debtor with his middle name abbreviated.
By Francis J. Lawall and Kenneth A. Listwak
Buyers generally assume that the multi-page “free and clear” order, which typically follows the sale hearing, will insulate them from any of the seller’s current (and often) future liabilities. However, that is not always the case.