Seventh Circuit: Reclamation Claims Are Subordinate to DIP Financing
The 2005 amendments to Section 546(c) departed from state law under UCC § 2-702 by creating a federal rule making reclamation claims subordinate to existing secured claims and DIP financing.
Court:
The Party’s Over; Now, Who’s Cleaning Up?: The Post-Apocalyptic Landscape Following a § 363 Sale: Part I
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The Party’s Over; Now, Who’s Cleaning Up?: The Post-Apocalyptic Landscape Following a § 363 Sale: Part II
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