Disclosure statements and plans contain considerable information, and the most pressing issues for a creditor can vary depending on the nature of the creditor’s claim and its relationship with the debtor. This is determined...more
Preferences are a common issue in bankruptcy proceedings. The Bankruptcy Code provides several affirmative defenses to assist creditors in mitigating or eliminating their preference exposure. One such affirmative defense is...more
The Internal Revenue Code permits a business bad debt deduction when a customer fails to pay for the services rendered or the products supplied by your business. However, the ability to claim an ordinary deduction with...more
3/22/2024
/ Bankruptcy Code ,
Commercial Bankruptcy ,
Creditors ,
Debtor-Creditor ,
Debtors ,
Financial Services Industry ,
Insolvency ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Deductions ,
Tax Liability
There are two similar but distinct mechanisms through which a creditor might net amounts owed to the debtor against amounts owed by the debtor — setoff and recoupment. Understanding the distinction between them, and how...more
2/21/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit ,
Creditors ,
Debt ,
Debtors ,
Financial Services Industry ,
Recoupment ,
Sale of Assets ,
Setoff Rights
Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy.
A claims agent is a third party retained by the debtor to take on...more
8/22/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Contract Terms ,
Creditor's Committee ,
Creditors ,
Debtors ,
Non-Debtors ,
Secured Debt ,
Unsecured Debt ,
Vendors
Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy.
A secured creditor is a creditor whose claim is supported by a...more
While section 503(b)(9) claims deserve priority payment over general unsecured claims, they do not provide a basis for stripping a debtor’s defenses in determining the allowed amount of a section 503(b)(9) claim....more