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Act fast to lift automatic stay of proceedings

Thursday, November 17, 2016 @ 7:00 PM | By Brian Kolenda

A range of default provisions in a variety of commercial arrangements authorize creditors to, either automatically or at their discretion, take certain steps to protect themselves against the insolvency or financial hardship of their counterparties. Such clauses will be familiar to lawyers who deal with a wide variety of management, partnership and joint venture agreements. Passive investors who wish to rely on another party for management of the underlying business use such clauses to protect the operations of the business.

The exercise of these default provisions...