Repossessions And bankruptcy: What The Fulton Decision Means For Turnover
By EsqSocial Corporation 10/05/21
The February Supreme Court decision in City of Chicago v. Fulton was widely celebrated in the lending community because the court found that a lender who repossesses a vehicle before a borrower files for bankruptcy is not in violation of the “exercise control” provision of the Bankruptcy Code’s automatic stay section. That provision was the only one at issue in Fulton, and the court held that provision does not require lenders to turn over a repossessed vehicle as soon as a bankruptcy petition...
By: McGlinchey Stafford