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Requirement
1- Write a report on a 21st Century Oncology Holdings, Inc Bankruptcie in about 250 words with reference to KKC .
Solution
In the case of 21st century Oncology Holdings Inc., current status of the case it can be stated that the defendant has claimed for allowance of claims or interest under 11 USC Section 502. Under the statute it has been stated that the claim or interest must be backed by proof that the concerned person should receive such amount as claim or interest from the other party to the particular case. However, the court will not permit or allow claim of any debtor to the party under this Act. However, there are certain exceptions mentioned under the provision under such circumstances the court may allow such claim or interest to the party so claimed. The court in this case under the provision of 11 USC 502(b) (7) has allowed under the exception of prepetition prejudgment interest on unpaid capped amount of the claim and certain amount of the attorney’s fees (Casetext, 2019).
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Over the second issue the court stated that the provision for bonus under the employment contract are ambiguous and vague and the court has permitted for an inquiry into the matter for parol evidence(Casetext, 2019).
Going through the chosen case, I learnt that the claim for interest on unpaid capped amount shall be borne by the debtor and should be paid to the creditor whenever it is claimed by the creditor from the debtor. It has also been found that the interest on unpaid capped amount is a responsibility of the debtor to pay to the creditor.
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In re 21ST Century Oncology Holdings, Inc, Case No. 17-22770 (RDD) | Casetext. (2019). Retrieved from https://casetext.com/case/in-re-21st-century-oncology-holdings-inc
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