Nebraska  |  Credit and Debt Law

Legal Question

Asked on: 10/16/07, 4:35 pm

Secured creditor lien assignment to owner

Can a business owner inject $ into a failing company, calling it loans without any documentation, payoff secured creditor and take a 1st lien assignment in a effort to pay back yourself before the other unsecured creditors.

1 Answer

Answered on: 10/16/07, 5:29 pm by David Anderson

Re: Secured creditor lien assignment to owner

How can he do a secured loan without documentation? Are you an unsecured creditor?

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Mahoney Anderson LLC P.O. Box 44504 Eden Prairie, MN 55344

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