Missouri federal court addresses entitlement of senior lender to collect default interest after the debtor’s bankruptcy

The U.S. Bankruptcy Court for the Western District of Missouri held in In re Family Pharmacy Inc. that federal law allows the application of equitable principles to deny a claim for default interest post-petition in an appropriate case.  The court also looked to state law to determine whether default interest is deemed a penalty.

See, https://www.leagle.com/decision/inbco20190708334

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