that administrative expenses cannot be satisfied out of collateral Property ‘but must be borne out of the unencumbered assets of the estate.’” ¶ 506.05, at 506-117 (16th ed. According to the court, though, Bankruptcy Code (“Code”) Section 506(c) provides a “narrow” and “extraordinary” exception to the general rule, an exception intended by Congress “to prevent a windfall to a secured creditor at the expense of the estate.” , 26 F.3d 481, 483 (4th Cir. Code Section 506(c) enables the “trustee [to] recover from” collateral “the reasonable, necessary costs and expenses of preserving, or disposing of, [the collateral] to the extent of any benefit to the” secured lender.
Affirming the bankruptcy court’s surcharging the lender’s collateral, the Fifth Circuit acknowledged the “general rule …
First, it is inconsistent with our earlier pronouncement that the ‘Section 506(c) analysis is particularly case specific.’” , 957 F.2d at 1300.
Do all memebers of the board of directors have a right to the comapny's financial info.?
lomax001-ga, The SEC has a very useful page of information (and cautions) regarding microcap companies, including Pink Sheet firms.
What are the rules regarding financial statements, etc for non-reporting companies listed on the Pink Sheets?
Do they have to report to shareholders and not the SEC?