Focus (Forum & Focus)
Sep. 12, 2008
Rethinking Chapter 11
A recent 9th Circuit ruling protects the rights of junior lien holders in cases where the debtor sells assets in a Chapter 11 bankruptcy, write John T. Hansen and Robert S. McWhorter. - Focus Column
By John T. Hansen and Robert S. McWhorter
This article appears on Page 7
Debtors filing for Chapter 11 bankruptcy may now find selling their assets more difficult. A debtor's ability to sell assets despite liens attached to the property has been significantly curtailed by a recent 9th Circuit decision. Lien holders, especially junior lien holders, are likely to benefit from the decision.
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