BCR Advisory
Bankruptcy

Lenders Seeking Loan Modification After Bankruptcy, Beware!

 This article was sourced from JD Supra Business Advisor. Article by Paul Fanning, Norman Leonard. LENDERS CANNOT REVIVE A GUARANTY OBLIGATION DISCHARGED IN BANKRUPTCY WITH A SUBSEQUENT MODIFICATION OR FORBEARANCE AGREEMENT, EVEN WITH NEW CONSIDERATION; AND ATTEMPTING TO DO SO MAY LEAD TO LENDER LIABILITY EXPOSURE.  Recently, a bankruptcy judge in the United States Bankruptcy Court […]