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Because the Bankruptcy Code allows debtors to recover damages from creditors who act in violation of the automatic stay, creditors should proceed with care in order to avoid creating a basis for such relief.
Many creditors have been warned of the need to halt collection efforts once they are put on notice that a debtor has filed for bankruptcy. However, the why behind this warning, mainly the automatic stay, is often misunderstood or disregarded.
In City of Chicago, Illinois v. Fulton, the Court was faced with the issue of whether the City of Chicago was liable for the violation of the automatic stay for refusing to return vehicles it impounded pre-petition.
Most every business relies on executory contracts, which often contain at least one bankruptcy provision. It is important for businesses to be aware of the common bankruptcy provisions...
In a recent decision, causation proved to be a determinative factor in the viability of multiple claims subject to the same force majeure clause. District judge rules that broad...