Bankruptcy
Sep. 27, 2012
Sellers of goods find protection in the Bankruptcy Code
Sellers and service providers regularly extend credit to their customers, and often end up with general unsecured claims in their customer's bankruptcy cases. By Claire E. Shin of Greenberg Glusker Fields Claman & Machtinger LLP
Sellers and service providers regularly extend business credit to their customers. However, if a buyer or customer files for bankruptcy and becomes a debtor in a Chapter 11 bankruptcy case, unpaid trade creditors must refrain from collection efforts against the buyer/customer, unless specifically authorized to do so by the bankruptcy court or bankruptcy law. Frequently, trade creditors end up with a general unsecured claim in their customer'...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In