4 ms·
I used ChatGPT so who knows if this is true but: > For example, in a U.S. case, Associated Grocers of Maine, Inc., the Bankruptcy Court for the District of Mai
by stock-throwaway 3y ago
I used ChatGPT so who knows if this is true but:
> For example, in a U.S. case, Associated Grocers of Maine, Inc., the Bankruptcy Court for the District of Maine ruled that federal bankruptcy law preempted a restriction on the transfer of the debtor's stock, thereby permitting a sale of the stock free and clear of the restriction.
Makes sense though, honestly
- givemeethekeys 3y agoIf it is permissible to sell in bankruptcy, then I don't see why it wouldn't be permissible to sell to buy a new car.
- dragonwriter 3y agoIts not “permissible”; asset sales in bankruptcy aren’t permissive, they are compulsory. The governments power to compel sale to resolve bankruptcy trumps your counterparty’s right to limit the sale.