Legal Question in Credit and Debt Law in Nebraska

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.

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

1 Answer from Attorneys

David Anderson Anderson Business Law LLC
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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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Answered on 10/16/07, 5:29 pm

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