If you are a creditor in bankruptcy court in Texas, you may be wondering what your rights are and how you can protect your financial interests.
In this article, we will discuss creditors’ rights in bankruptcy proceedings, including:
What rights do secured and unsecured creditors have?
Secured Creditors’ RightsSecured creditors may have priority claims based on secured collateral like:
An unsecured creditor can:
Attorneys for Creditors in Bankruptcy ProceedingsMurray Lobb’s bankruptcy attorneys have been protecting creditors’ rights in bankruptcy proceedings in Texas and other states for over 30 years. Our clients have included financial institutions, builders, suppliers, equipment lessors, and other businesses seeking to protect their financial interests when debtors file Chapter 7 or Chapter 13 bankruptcy.
If you are a creditor in bankruptcy court, your attorney can help to protect your rights by:
For example, if the transfer:
Under 11 USC § 548, the bankruptcy trustee has the authority to avoid fraudulent transfers made within two years of the filing of the bankruptcy petition.
Automatic Stay Actions11 USC § 362 provides for an automatic stay of actions against the debtor in bankruptcy, but creditors can request relief from the stay:
Some examples of nondischargeable debt include:
Creditors have a chance to review the proposed repayment plan, and, if the creditor is not being treated fairly, they can file an objection and present their reasons to the court at the confirmation hearing.
Please feel free to contact one of our Murray Lobb attorneys to obtain our legal advice regarding creditors’ rights in bankruptcy proceedings. We also remain available to help you with all your general business, corporate, and estate planning needs.