Connecticut Superior Court (Jennings, JTR) found that it appeared that parties to a transaction utilized a consulting fee in addition to interest as a way to circumvent the 12 percent statutory interest cap. Elliott v. Bradley CV10-6006695S
FIRST DAY ORDERS — CRITICAL VENDOR ORDERS AFTER KMART (Reprint)
With the commencement of a Chapter 11 reorganization comes the automatic stay and also a prohibition of the debtor’s use of cash collateral, incurring of new debt, or activity outside the ordinary course without appropriate court orders. Operation of the…