TITLE

SECURED CREDITOR HAD STANDING TO ENFORCE BANKRUPT DEBTOR'S RIGHTS ON RECEIVABLES

PUB. DATE
November 2011
SOURCE
Clarks' Secured Transactions Monthly;Nov2011, Vol. 27 Issue 11, p4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses an Illinois court case, Agri-Best Holdings LLC v. the Atlanta Cattle Exchange Inc. (TACE), which deals with the enforcement of the bankrupt debtor's rights on receivables. Agri-Best Holdings LLC registered for a Chapter 11 bankruptcy and sued TACE on the receivables, however, Wells Fargo Bank NA appealed to the bankruptcy court for relief from the automatic stay. The court ruled that the secured lender has the position to sue the account debtors once the stay is lifted.
ACCESSION #
70272094

 

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