Business Law
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Case Details
Michigan Court of Appeals affirmed the Ingham County Circuit Court’s decision to protect a senior secured lender’s right to enforce its security agreement, allowing a local business to stay afloat.
Additional Notes
Team led by Remo Mark Grua, Thomas M. Tupper, and Carrie S. Ihrig. Case involved a local community bank and a small business borrower. The opinion provides guidance to senior secured lenders, junior creditors and their counsel in work out and forbearance cases where assets are insufficient to satisfy the demands of creditors.