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Corporate counsel often file Chapter 11 bankruptcy cases in courts that regularly enter debtor-friendly first-day orders. First-day orders include professional retention orders, post-petition financing orders and pre-petition claim payment orders. They can set the direction of the entire case. In-house counsel should consider their bankruptcy counsel's ability to articulate a court's approach to first-day orders.
July 29, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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