Seventh Circuit in Holly Marine Affirms Exception to Gifting Prohibi...
02/13/12
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Seventh Circuit in Holly Marine Affirms Exception to Gifting Prohibition
JD Supra (press release)
Thus, the Seventh Circuit held that the gift did not implicate the priority rules of the Bankruptcy Code. In re Holly Marine Towing, Inc., —-WL—-, No. 11-1787 (7th Cir. Jan. 6, 2012). Generally, the Bankruptcy Code requires that no junior creditor ...
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JD Supra (press release)
Thus, the Seventh Circuit held that the gift did not implicate the priority rules of the Bankruptcy Code. In re Holly Marine Towing, Inc., —-WL—-, No. 11-1787 (7th Cir. Jan. 6, 2012). Generally, the Bankruptcy Code requires that no junior creditor ...