The disposition of a debtor's LLC membership interest depends on the interpretation of the court, executory contract, or property rights.

#363Sale #BusinessDistress #Chapter11Plans/Confirmation #ExecutoryContractsandUnexpiredLeases #Insolvency

https://www.dailydac.com/llc-membership-interests-in-chapter-11-can-they-be-sold-over-other-members-objections/

Careless UCC-3 Termination Filings Have Costly Consequences
Under Article 9 of the Uniform Commercial Code (UCC), a UCC-3 is defined as a filing used to make or track any changes to a UCC-1 filing, including continuations, terminations, transfers, and amendments to party names and collateral.

https://www.dailydac.com/best-practices-for-ucc-3-terminations-and-continuations/

A bankruptcy claim is any right to payment from the debtor. Make sure you protect your claim by filing early and amending as needed.

#BankruptcyPetition #Chapter11Plans/Confirmation #Claims #GeneralUnsecuredCreditor #SecuredClaims

https://www.dailydac.com/filing-and-amending-claims-in-a-bankruptcy-case/

Being solvent doesn’t prevent a debtor from filing for bankruptcy — but can their case still be dismissed on other grounds? 

#BankruptcyPetition #Chapter11Plans/Confirmation #CreditorsCommittee #ExecutoryContractsandUnexpiredLeases #Insolvency

https://www.dailydac.com/solvent-debtor-a-chapter-11-debtor-doesnt-need-to-be-broke/

When a debtor files for bankruptcy, their creditors are paid based on the absolute priority rule. As an unsecured creditor, where does your claim sit in the order of priority?

#Claims #CreditorsCommittee #GeneralUnsecuredCreditor #InvoluntaryBankruptcy #SecuredClaims

https://www.dailydac.com/who-gets-paid-first-and-second-third-etc-in-bankruptcy/

🔔 Public UCC Article 9 Sale – June 16, 2025
Mayaguana Island Developers, Ltd. will sell a 20% Membership Interest in True North Services, LLC at a public auction via remote communication.

🕑 Date/Time: June 16, 2025, at 2:00 p.m. ET
📌 Deposit: $25,000

🔗 Full Notice: https://www.dailydac.com/public-notice-of-ucc-article-9-sale-truenorth-projects-llc-2/
#TrueNorth #AuctionNotice #UCCSale

https://www.dailydac.com/public-notice-of-ucc-article-9-sale-truenorth-projects-llc-2/

📢 UCC Article 9 Sale: 1800–1818 N. 4th LLC
Levenfeld Pearlstein, LLC, on behalf of Quanta Finance, LLC, will conduct a public auction of 100% ownership interests in 1800–1818 N. 4th LLC.
🗓 Auction Date: June 12 | 🕑 2:00 PM CT
📄 For full details, read the public notice on DailyDAC: https://www.dailydac.com/public-notice-of-dispostiton-of-collateral-1800-1818-n-4th-llc/
#UCCSale #CommercialR

https://www.dailydac.com/public-notice-of-dispostiton-of-collateral-1800-1818-n-4th-llc/

When a business or individual faces financial turmoil or regulatory scrutiny, a court may appoint a receiver to take control of assets and oversee operations.

#AutomaticStay #BusinessDistress #Copyrights #FederalEquityReceiverships #IntellectualProperty

https://www.dailydac.com/the-nuts-and-bolts-of-a-federal-equity-receivership-understanding-the-order-appointing-the-receiver/

For companies operating in both the US and Canada, understanding the complexities of cross-border insolvency can be crucial for survival.

#BusinessDistress #Chapter11Plans/Confirmation #GeneralUnsecuredCreditor #Insolvency #SecuredClaims

https://www.dailydac.com/cross-border-insolvency-canadian-statutory-requirements/

Issues in healthcare restructuring differ from corporate restructurings due to the industry’s regulatory environment and focus on patient welfare.

#363Sale #AutomaticStay #BusinessDistress #Chapter11Plans/Confirmation #ExecutoryContractsandUnexpiredLeases

https://www.dailydac.com/potential-pitfalls-and-opportunities-in-healthcare-restructuring/

When your borrower files bankruptcy, choosing to cooperate can lead to a more successful restructuring or sale. Here's how to protect yourself if you do.

#AutomaticStay #BusinessDistress #CashCollateral&DIPFinancing

https://www.dailydac.com/what-secured-lenders-should-know-if-their-borrower-files-for-bankruptcy/

Digital assets generally cannot be physically held, but they may now be legally possessed, under the UCC in Delaware and other states that have adopted identical provisions of the UCC or similar legislation.

#Claims #Priorities #UCCArticle9

https://www.dailydac.com/possessing-the-unpossessable-holding-digital-assets-in-your-ucc-hands/

NOTICE OF SALE
Starved Rock Wood Products LLC ("SRWP") is a reliable partner who proudly produces in Illinois with a strong industry presence and a diverse customer base. This is a highly scalable, well-positioned business with strong fundamentals.

https://www.dailydac.com/public-notice-of-assignee-sale-starved-rock-wood-products-llc/

NOTICE OF PUBLIC SALE OF COLLATERAL
NOTICE IS HEREBY GIVEN that, pursuant to (a) Section 9-610 of the Uniform Commercial Code (“UCC”) as in effect in the State of New York and (b) the Pledge and Security Agreement, dated as of July 20, 2015 (as amended, restated, or otherwise modified, the “Security Agreement”) made by CCP Mezzanine Nashville I, LLC, a Delaware limited liability company (collectiv

https://www.dailydac.com/public-notice-of-ucc-article-9-sale-ccp-mezzanine-nashville-i-llc/

You’ve just won a trial and obtained a money judgment against a corporate defendant. Now, it’s time to enforce the judgment and collect what you’re owed.

#Claims #CollectionLaw #SecuredClaims

https://www.dailydac.com/you-sued-and-won-now-what-how-to-enforce-a-judgment-in-illinois-and-turn-it-into-cash/

The utilization of LMTs, including the use of private credit, in recent restructurings, and the potential role of AI, could permanently change the game of negotiating credit agreements.

#BankruptcyPetition #BusinessDistress #GeneralUnsecuredCreditor

https://www.dailydac.com/corporate-restructuring-liability-management-transactions-private-credit-and-the-road-ahead/

From unpaid wages and benefits to retention plans and WARN Act liabilities, this article explores what really happens to employees when their employer heads into Chapter 11.

#AutomaticStay #BusinessDistress #Chapter11Plans/Confirmation #CreditorsCommittee #GeneralUnsecuredCreditor

https://www.dailydac.com/what-happens-to-employees-when-a-company-files-for-bankruptcy/

Assignment for the benefit of creditors (ABC) might mitigate loss and preserve going-concern value for the company and its secured creditors.
This article discusses ABC rules and how they compare with competing resolution structures under the Bankruptcy Code and Uniform Commercial Code (UCC).

#AssignmentfortheBenefitofCreditors #BusinessDistress #Chapter11Plans/Confirmation #Chapter7Bankruptcy #In

https://www.dailydac.com/the-road-to-an-assignment-for-the-benefit-of-creditors-abc-a-case-study/

Filing a proof of claim in Chapter 11 can help a creditor get paid—but may also waive key rights (like jury trial) and trigger bankruptcy court jurisdiction. Sometimes, not filing is the better move. Read why: https://www.dailydac.com/important-issues-and-developments-when-filing-a-proof-of-claim-2/
#Bankruptcy #Chapter11 #CreditorStrategy

https://www.dailydac.com/important-issues-and-developments-when-filing-a-proof-of-claim-2/

Carpenter Lipps LLP has announced the opportunity to make a new equity infusion pursuant to a Chapter 11 plan. The debtor and its subsidiaries own three hotels.
For important details and contact information read the full notice linked below.
https://www.dailydac.com/public-notice-of-chapter-11-sale-sg-hospitality-inc/
#Chapter11 #BankruptcySale #BankruptcyAuction #BankruptcyCourt #RestructuringNews #LegalNotice

https://www.dailydac.com/public-notice-of-chapter-11-sale-sg-hospitality-inc/