Bankruptcy invalidating liens plenty of fish 100 dating
Most of these exceptions are based upon important policy considerations developed over many years predicated upon the perception that certain actions should not interrupted or foreclosed by a bankruptcy filing because the prejudice suffered by non-debtors outweighs the "breathing spell" policy underlying the automatic stay.
Thus, Bankruptcy Code section 362(b) provides that the stay does not preclude, among other things, the commencement or continuation of criminal, paternity, child support, alimony or maintenance actions, certain setoffs by stock and commodities brokers, forward contract merchants and securities clearing agencies, tax audits or the issuance of a notice of tax liability and actions by a commercial lessor to obtain possession of leased property if the lease expired prior to the bankruptcy filing.
Send a notice to a registered agent if the owner is a corporation, or the newspaper.
Take action on the lien within 365 days to keep the lien from becoming invalid.
The bankruptcy is In re Caesars Entertainment Operating Co Inc, U. Bankruptcy Court, Northern District of Illinois, No.
The wonky dispute typifies the arcane legal battles that crop up in a complex, billion case like Caesars, which has already seen heavy litigation after only four months.
Creditors have accused the company's private equity owners, Apollo Global Management and TPG Capital Management , of looting Caesars' best assets, transferring profitable casinos to non-bankrupt affiliates beyond creditors' reach.
If you are a contractor, it is important to know these conditions so you can avoid non-payment of your work. Make sure to include a statement that the lien expires 365 days from the filing date, rather than the date the work was completed, unless further action occurs, such as civil suit or bankruptcy.
Lien templates are available at many websites for a fee.