Timeline for Can a winner of a group lawsuit agree to forgo a portion of their recovery in return for a personal payment?
Current License: CC BY-SA 4.0
3 events
when toggle format | what | by | license | comment | |
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Nov 25 at 7:26 | vote | accept | HanMah | ||
Nov 25 at 7:26 | |||||
Nov 24 at 9:57 | comment | added | HanMah | You're saying that all of the creditors agree with a lower appraisal, so that is okay. What I still don't quite understand is what happens if only some. If not all of the creditors agreed, (eg, one wants to buy a $1m house for $2m of "recovery") does the creditor use best judgment to determine if "most" of the creditors would like that? Could in my example, where more of the "recovery" would be fulfilled in a way that would anger the other creditors, be declined by the liquidator? What if there are 2 cash offers, the larger from an undesirable. Can the smaller offer be taken? | |
Nov 22 at 22:23 | history | answered | Jörg W Mittag | CC BY-SA 4.0 |