Sovereign citizens who file creditor claims are helped by the fact that in most states, the secretary of state must accept any lien that is filed without judging its validity.
The claims of shareholders in bankruptcy are typically wiped out in favor of those filed by creditors.
See articleAround 100 objections were filed by creditors, unions and residents against Detroit's plan to enter bankruptcy protection, the largest filing by a city in American history.
Another pending lawsuit filed by creditors accuses Mr. Lichtenstein of contributing to the lodging company's insolvency by siphoning tens of millions of dollars of hotel revenues to reap substantial asset management fees and pay back investors.
The problems at Thai Petrochemical trouble investors not only because the company is Thailand's largest corporate debtor, but because of what it may mean for attempts to recover some of the two trillion baht in nonperforming loans that remain and the more than 400 lawsuits to recover them filed by creditors in Thailand's new bankruptcy court.
"In 1921, with the paint barely dry on the walls, a petition in bankruptcy was filed by creditors against Thomas Frothingham, who was a partner in the brokerage firm of Potter Brothers & Company," according to "The Somerset Hills" (Mountain Colony Press, 2005), a weighty compendium of grand houses.
Its Polish unit has now filed for creditor protection and the French unit will follow, triggering cross-default clauses in Spain.
Though G.M. filed for creditor protection in June 2009, its excessive debt and the rich promises it extended to retired employees had made its solvency questionable since at least 2005, when the Detroit carmaker's credit rating was lowered to junk.
LONDON — Baugur, an Icelandic holding company with stakes in a wide range of British retailers, filed for creditor protection on Wednesday after talks with its biggest lender broke down.
NEW YORK TIMES MF Global Creditors Identify Potential Assets | An update filed by MF Global creditors was the latest development in the dispute over whether assets belong to creditors or customers, Bloomberg News reports.
