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    California court holds implied consent is a valid alternative basis to surcharge secured creditors’ collateral
    2015-10-19

    It has long been the case that secured creditors could be charged for the reasonable and necessary costs incurred to preserve the value of their collateral.  This equitable principle emerges out of case law that predates not only the current Bankruptcy Code, but also its immediate predecessor, the Bankruptcy Act of 1938.  As now codified in section 50

    Filed under:
    USA, California, Banking, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Collateral (finance), Secured creditor
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP

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