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In Travelers Casualty , the high court reversed a long-standing 9th Circuit rule that had prevented undersecured and unsecured creditors from asserting claims for contractually agreed upon attorney fees against a debtor when they were incurred litigating bankruptcy law matters. This case serves as a wake-up call to all types of creditors to re-evaluate their credit and lease documents. Creditors have a much better chance at obtaining attorney fees if their prepetition contracts are properly drafted.
November 05, 2007 at 12:00 AM
1 minute read
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