One of the best kept secrets in the tooling industry is an Ohio law that grants a lien to molders and mold-builders for services performed related to dies, molds, patterns and forms.
Committees Committee
Committees
A bankruptcy judge in Texas has issued one of the most compelling preference rulings in recent history. In the chapter 7 case of Brook Mays Music Co. pending in Dallas, the court ordered at the outset of a chapter 7 case that the chapter 7 trustee NOT pursue certain preference actions in an effort to reel in “preference litigation run amok.” In making this ruling the court stated:
As most savvy collection managers know, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) granted suppliers a priority in payment for goods received by the debtor within 20 days before bankruptcy. The new statute undoubtedly increased the chances that suppliers will achieve a significant recovery.