U.S. Supreme Court
May 31, 2012
Lenders score bankruptcy victory
In a win for banks and other lenders, the U.S. Supreme Court on Tuesday restored the ability of secured creditors to protect collateral from being undervalued in bankruptcy proceedings.
Daily Journal Staff Writer
WASHINGTON - In a win for banks and other lenders, the U.S. Supreme Court on Tuesday restored the ability of secured creditors to protect collateral from being undervalued in bankruptcy proceedings.
The court unanimously held that in order for judges to confirm Chapter 11 bankruptcy plans involving the sale of assets, secured lenders must have the opportunity use the credit they're already owed...
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