Bankruptcy Law Case Summary – In re the Village at Lakeridge

On behalf of Furr & Cohen, P.A. posted in News on Friday, May 6, 2016.

In a bankruptcy action, the Bankruptcy Appellate Panel’s decision that Robert Rabkin was not a statutory insider for the purposes of voting to accept a Chapter 11 bankruptcy plan is affirmed where a creditor does not become an insider simply by receiving a claim from a statutory insider, but must have a close relationship with the debtor and negotiate the relevant transaction at less than arm’s length.