Liquidation bankruptcy
A statement from the trustee indicating that will be no assets available to unsecured creditors
What is a NDR- No distribution report
The compensation creditors receive for continued use of collateral prior to the bankruptcy confirmation.
What is adequate protection
A plaintiff (or defendant to a counterclaim, Cross Claim or Third Party Complaint) can obtain this if the other party fails to timely file a response to an underlying pleading.
What is a Default Judgment?
An United States bankruptcy law that halts action by creditors to collect debts at the onset of a petition.
What is an automatic stay.
This is a lease where the payments made by the lessee to the lessor reflect the value of the use of the property during the lease period.
What is an Operating or True Lease
This bankruptcy requirement demands an individual filing Chapter 7 bankruptcy fulfill their statement of intentions. It typically occurs 45 days after the initial 341 meeting.
What is the performance deadline
The codebtor stay on consumer obligations applies to these bankruptcy types.
What is Chapter 12 and Chapter 13
This is a common Motion requesting the Court grant relief from the claims to the party filing a motion, and requires a finding that there are no material fact matters in dispute.
What is a Motion for Summary Judgment?
Initial review upon entering Litigation
What is Customer, Paper, Equipment?
This provision in our contract provides that equipment is pledged for all debts owed to Deere, and all equipment previously pledged secures obligations under a new note.
What is Cross-collateralization provision.
Name at least 3 states that acknowledge retain and pay as a viable option
What is Florida, Iowa, Kentucky, Massachusetts, Mississippi, North Carolina, New Jersey, New York, Pennsylvania, Rhode Island, Tennessee, Virginia, Wisconsin and West Virginia
The date that a plan review collector action is expected to be completed per the Chapter 12 timeline
What is 180 days?
DOUBLE JEOPARDY Deere is served with a 3rd party complaint seeking possession and/or money judgment for equipment pledged to Deere.
What is a foreclosure notice?
An act that would allow outside counsel to represent other creditors in a matter, in which, JDF is involved
What is Conflict Waiver.
The proper entity for all JDF lease accounts.
What is Deere Credit, Inc.
This length of time is given to a Chapter 7 Trustee to determine whether he/she wants to assume a lease. If this length of time passes with no action from the Trustee, the lease is deemed rejected
What is 60 days
A chapter 11 document filed by the DIP on a recurring basis which details the funds flowing in and out of the DIP accounts.
What is a monthly operating report
After the foreclosure party files a petition and supporting evidence, the court orders the property seized and sold within the parish.
What is an Executory Proceeding?
A single account that has both a secured and unsecured portion within a bankruptcy case.
What is a bifurcated claim.
The document that the dealer signs that allows multiple amounts to be guaranteed by the dealership at different periods during the term of the contract.
What is a Tiered First Loss Agreement
This time requirement is important to keep in mind if the equipment is not listed in Schedule B as it establishes a date by which an adversary action must be filed.
What is the deadline to object to discharge
DOUBLE JEOPARDY Per the executive summary, the competed documentation needed is: chapter type, applicable docket #, secured amount, unsecured amount, confirmation date, effective date, interest rate (pre & post-confirmation), type of payment, payment frequency, payment amount, first payment date, plan term, repayment term, trustee/debtor pay, invoicing capabilities, lien release requirements, attorney fees, AP orders and allocation, along with these 3 items
What is unsecured treatment, effective date of interest, and default provisions
The extra insurance required to pick up equipment from a Replevin action in Texas.
What is a Bond?
In a chapter 13 bankruptcy, this is the regulation that states you cannot be crammed down if the collateral in question was purchased in the last year.
What is the 910/365 rule
The date of the terms and conditions currently in place on a multi-use account that opened December 2001.
What is the May 2005