QUOTE: In the event of a liquidation, a secured creditor such as one related to a bank loan or payment for materials or merchandise received would have first claim in most instances both in terms of when the debt was incurred and the hierarchy of debt "importance, " as compared with a creditor such as MTH, with a recent civil judgement.
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QUOTE: Originally posted by nblum Well, I have no expertise in bankruptcy law, but a bankruptcy filing provides protection from creditors while the bankruptcy is in effect, including civil judgements of the sort MTH just won. Lionel would certainly be able to pursue an appeal of this decision while under bankruptcy protection, so there are many advantages to Lionel and none to MTH of this filing. You'll note that in their press release, MTH says that Lionel may use bankruptcy to unfairly shield themselves from the verdict. Which they are attempting to do, fairly in my opinion. In the event of a liquidation, a secured creditor such as one related to a bank loan or payment for materials or merchandise received would have first claim in most instances both in terms of when the debt was incurred and the hierarchy of debt "importance, " as compared with a creditor such as MTH, with a recent civil judgement.
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QUOTE: ” However, L will need to post a bond to secure the amount of the judgment in order to pursue that appeal. “
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