The Bankruptcy Code sets forth an orderly process for the distribution of a debtor-in-bankruptcy's assets. This process has the effect of altering many of the procedural and substantive rights and obligations of the debtor, as well as of the debtor's creditors. Parties asserting a property interest in assets of a debtor in bankruptcy, however, must rely on nonbankruptcy law to determine the nature and extent of their property interests. The most commonly asserted interest by creditors involved in a bankruptcy are security interests.
Suggested Bluebook Citation
Lois R. Lupica,
The Effect of Bankruptcy upon a Firm using Patents and Trademarks as Collateral,
Available at: http://digitalcommons.mainelaw.maine.edu/faculty-publications/58