The automatic stay is one of the most fundamental bankruptcy protections. It enjoins the initiation or continuance of any action by any creditor against the debtor or the debtor’s property, including causes of action possessed by the debtor at time of the bankruptcy filing. The automatic stay offers this protection while bringing all of the debtor’s assets and creditors into the same forum, the bankruptcy court.
USA, New York, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Chadbourne & Parke LLP, Bankruptcy, Debtor, Injunction, Fraud, Class action, Limited liability company, Liquidation, Conveyancing, Investment company, Securities fraud, Securities Investor Protection Corporation, Racketeer Influenced and Corrupt Organizations Act 1970 (RICO) (USA), Trustee, United States bankruptcy court
On Friday, the Office of the Comptroller of the Currency closed Home National Bank, headquartered in Blackwell, Oklahoma, and the FDIC was appointed receiver.
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Office of the Comptroller of the Currency (USA), Federal Deposit Insurance Corporation (USA)
On Friday, the New York State Banking Department closed USA Bank, headquartered in Port Chester, New York, and the FDIC was appointed receiver.
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Federal Deposit Insurance Corporation (USA)