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Laura Day DelCotto

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Best Lawyers Lawyer of the Year Laura Day DelCotto Litigation - Bankruptcy Lexington 2021
Three Best Rated
Rated by Super Lawyers Top 25 Women Kentucky SuperLawyers.com

Chapter 11 Bankruptcy

  • Counsel to an eastern Kentucky marina and houseboat manufacturing company in a Chapter 11 case
  • Counsel to debtor in a successful multi-million dollar reorganization of a northern Kentucky gasoline company with multiple gas stations and $20 million in assets through a Chapter 11 case
  • Representation in multiple coal industry Chapter 11 cases in Eastern District of Kentucky as debtor in possession counsel. Successful chapter 11 plans and assets sales. Cases involved complex issues including permitting, bonding, reclamation, WARN, and corporate control
  • Representation in coal industry Chapter 11 cases as Unsecured Creditors Committee counsel. Liquidation proceedings and multiple asset sales with related permits and bonding issues involved
  • Committee Counsel for franchise fast food restaurants with multiple locations, chains and national franchisors involved
  • Western District of Kentucky, 1991
  • Committee Counsel to multi-location retail fashion company. Counseled going-out-of-business (GOB) sales, auction and bidding process and negotiations with national liquidators. Case also involved inventory and secured creditor lien dispute, franchise licenses, multi-location leases and fee properties

Commercial Loan Restructures and Workouts

  • Representation of real estate developer guarantors and “springing guaranty” issues in Central Kentucky multi-lender development project in excess of $50 million dollars
  • Successful out-of-court restructure of historic Kentucky brand including related insider litigation involving alleged wrongdoing of insiders and counsel
  • Representation of closely-held insurance company/insiders restructure and state court litigation involving third party wealthy guarantors and complex tax issues. Related lien issues involving status of renewal commissions for insurance
  • Successful restructures for numerous small and middle-market companies with large national and regional banks
  • Successful restructures in residential real-estate projects, including multi-location and multi-bank capital structures
  • Franchisee/Franchiser workouts and restructures
  • Hotel/Motel workouts and restructures
  • Numerous wind-downs/liquidations and friendly foreclosure work-outs to maximize recoveries for creditors
  • Restructures of multi-location franchise fast-food chain operations, including but not limited to dealings with national franchisors such as Popeye’s; Arby’s; Ruby Tuesday; Fazoli’s; Long John Silvers and YUM Brands
  • Successful restructure of locally-served meat processing and retail operations/family-transition issues
  • Multi-generational, family-served business restructures and transitions
  • Crisis-setting liquidations and emergency cash-flow situations
  • Receiverships – friendly and hostile , state court and federal court proceedings
  • Multi-limited and master limited partnership workouts (oil and gas industry)
  • Fiduciary duty and corporate officer/director dispute workouts
  • Co-counseling assistance on pre-filing analysis of feasibility, liabilities and cost of possible Chapter 11 case and plan confirmation options and issues as work-out or litigation strategy/options. Extensive plan formulation outside chapter 11 as part of work- out analysis and strategy.
  • Extensive cash- flow and operational review and development as part of services provided in analysis of options
  • Crisis management communications
  • Internal investigations and crisis management in relation to debtor/creditor complex structures

Individual Debtors

  • Representation of several high-income/high-profile individual debtors in personal Chapter 7 proceedings including press relation management and successful discharge of exposures and guaranties in excess of $10 million
  • Represented numerous Chapter 11 plan confirmations for individual debtors with closely-held, multi-corporate entities issues, numerous bank lenders and other LLC members/guarantors; multi-rental property ownership cases
  • Representation of “innocent-spouse” clients, including issues involving embezzlement; criminal issues; non-discharge, in both state and bankruptcy courts
  • Of counsel in numerous cases representing shareholders/insiders in closely-held corporate Chapter 11 filings, including litigation resolution and defense; director and officer exposure issues, and valuations involving shareholder equity interests
  • Complex Chapter 7 and Chapter 11 debtors with more serious issues and obstacles to discharge including fraud, fraudulent transfer, criminal, tax, embezzlement/theft, Directors and Officers insurance issues, and other complex challenges to emergence and fresh start
  • Husband/wife debt liability litigations and workouts
  • General partner/personal exposure in multi-entity complex entity-structure commingling/SPE issues
  • Complex auto dealership issues/out of trust exposure and resolutions


  • Oversight and case management for large-case/multi-million dollars and multiple avoidance litigation adversary proceeding matters for plaintiffs/Estate representatives
  • All types of bankruptcy litigation experience, including but not limited to: preferences; non discharge; contested plan confirmations and valuations; fraud and fraudulent transfers; adversary proceeding trials; contested lease assumptions/assignment; stay violations; injunctions and third party stay/releases
  • Chapter 7 trustee representation in large converted Chapter 11 case/administrative insolvency/lengthy mediation and successful resolution including payment on administrative and priority claimants
  • Dealing with numerous state and regulatory agencies and claims
  • Corporate Chapter 7 – large for-profit college shut down
  • Assignments for Benefit of Creditors (Kentucky state district courts)
  • D & O coverage and exposure issues
  • Construction/construction bonding disputes and projects completion issues
  • State court receiverships; pre-judgment remedies and ex parte efforts to enforce liens/control issues involving corporate management
  • Electronic information management/corporate records salvage
  • Corporate governance disputes
  • Expert witness consultation and testimony for other attorneys and/or insurance carries on bankruptcy – related disputes
  • Lender liability litigation
  • E-discovery disputes and resolution.
  • Trial plans and case management over large complex multi- party and multi- count litigation matters
  • Fraud, Ponzi, asset protection, and numerous other debtor/creditor disputes


  • Presented to the Kentucky League of Cities regarding pending debt restructure/possible Chapter 9 case in Kentucky
  • Revenue bond and general obligation bond issues in Kentucky Chapter 9 case
  • Kentucky state law/municipal debt obligations and municipal collections issues
  • Special Purpose Governmental Entities ( SPGE) in Kentucky – possible financial restructuring
  • Pension and joint and several issues
  • State entity rehabilitation matters /Franklin Circuit Court



LAURA DAY DELCOTTO is the former chair of the firm’s Bankruptcy, Financial Restructuring and Workout Group. She has a broad base of experience including representation of debtors-in-possession, borrowers in non-bankruptcy situations, secured and unsecured lenders, committees, trustees, DIP lenders, lessors and asset purchasers. Ms. DelCotto’s primary practice is in Chapter 11 commercial bankruptcy and in state court and out-of-court debtor/creditor related litigation, negotiations and workouts. She is nationally certified as a Business Bankruptcy Specialist by the American Board of Certification, and rated A-V by Martindale – Hubbell. She has handled a wide variety of matters, including working on most of the representative engagements listed in the description of the Bankruptcy Group. She has extensive experience in all types of bankruptcy litigation, as well as non-litigation workouts.

Ms. DelCotto is chair of the Kentucky Bar Association Bankruptcy Section 2002-03, and serves on the Joint Local Rules panel for the Bankruptcy Courts for the Eastern and Western Districts of Kentucky.

Ms. DelCotto is a frequent speaker on bankruptcy and debtor/creditor topics, including the following recent presentations:


  • “Jurisdictional Uncertainties Under the 1984 Bankruptcy Amendments,” Ky. L.J. (1986)
  • “Commercial Lending in Kentucky” (NBI 1998)
  • “Complying with Fair Debt Collection Practices Act” (NBI 1998)
  • “Consumer Bankruptcy Update” (UK/CLE 1999, 2002)
  • “Kentucky Foreclosures and Repossessions” (Lorman Ed. 1999 and 2000)
  • “Bankruptcy: A Creditor’s Perspective” (Lorman Ed. 2000, 2002, 2003)
  • “Fundamentals of Bankruptcy Law and Procedure in Kentucky” (NBI 2001)
  • “Midwest Regional Bankruptcy Seminar” (Presentations of Involuntary Bankruptcies and Post-LaSalle Chapter 11 Confirmation Issues MRBS 2001)
  • “Creditors’ Rights & Protection of Security Interests in Bankruptcy,” (Sterling Ed. 2002)


  • University of Kentucky College of Law, Lexington, Kentucky
    • J.D., Doctor of Jurisprudence – 1986
    • Honors: With Distinction
    • Honors: Colvin Rouse Best Note Award
    • Honors: Order of the Coif
  • University of the South, Sewanee, Tennessee
    • B.S., Bachelor of Science – 1983
    • Honors: magna cum laude
    • Honors: Order of the Gownsmen Phi Beta Kappa

Bar Admissions

  • Kentucky, 1986
  • Supreme Court of Kentucky, 1986
  • U.S. District Court Eastern District of Kentucky, 1986
  • U.S. District Court Western District of Kentucky, 1991
  • U.S. Court of Appeals 6th Circuit, 1988
  • U.S. Supreme Court, 1993
  • U.S. District Court Southern District of Indiana, 2002

Published Works

  • Jurisdictional Uncertainties Under the 1984 Bankruptcy Amendments Kentucky Law Journal, Vol. 75, No. 129, 1986
  • Chapter 51- Kentucky, author, Strategic Alternatives for and Against Distressed Businesses, 2016 edition; detailing the receivership process in Kentucky and weighing significant pros and cons of receivership from various perspectives


  • Colvin Rouse Kentucky Law Journal Best Note Award “Jurisdictional Uncertainties Under the Bankruptcy Code”
  • Fellow, American College of Bankruptcy
  • KY Fellow- American Bar Foundation
  • The Best Lawyers in America
  • Kentucky Super Lawyers, Bankruptcy & Creditor/Debtor Rights
  • Top 25 Female Attorney in Kentucky Super Lawyers
  • Leading Women of Central Kentucky, Business Lexington
  • Bar Register of Preeminent Women Lawyers, (Martindale Hubbell) Inaugural Edition
  • Martindale Hubbell “AV” Peer Review Rated
  • Leadership Kentucky
  • Leadership Lexington
  • UK College of Law Alumni Professional Achievement Award
  • Top 50 Attorney in Kentucky Super Lawyers
  • Kentucky Super Lawyers, Business Bankruptcy
  • Lawyer of the Year, Lexington Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Best Lawyers
  • Best Lawyers List, Lexington Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law and Litigation – Bankruptcy, The Best Lawyers in America, 23rd Edition
  • Top 10 Attorney in Kentucky, Super Lawyers

Classes & Seminars

  • Speaker, Medical Practices and Health Care Facilities In Bankruptcy, 18th Biennial Judge Joe Lee Bankruptcy Institute, 2017
  • Panel Presenter, Bankruptcy for Beginners, Introduction to Forms of Bankruptcy and Choice of Form of Bankruptcy, 2015
  • Panel Presenter, National Diversity Council, Women in Leadership Symposium, 2015
  • Presenter, KLC, Municipal Bankruptcy, 2013
  • Panel Presenter, National Conference of Bankruptcy Judges, 2006

Pro-Bono Activities

  • Kentucky Bar Foundation, Life Member
  • Fayette County Bar Foundation, Founding Fellow and Founding Firm
  • American Heart Association, Board Member
  • Mary G. Copeland Home, Board Member
  • Bellewood Presbyterian Home for Children, Board Member
  • Ordained Elder, Presbyterian Church
  • Central Kentucky Section of the Credit Abuse Resistance Education Program, Volunteer Presenter
  • Don Jacobs Financial Literacy Program, Volunteer Presenter

Fraternities or Sororities

  • Phi Beta Kappa

Professional Associations

  • Fayette County Bar Association, Board of Directors, 1999 to 2002
  • Kentucky Bar Association, Bankruptcy Section, Chair, 2002 to 2003
  • American Bar Association
  • American Bankruptcy Institute
  • Turnaround Management Association
  • IWIRC Central KY Chapter, Co-founder and Chair, 2013
  • NAWBO, Public Policy Committee, Board of Directors and Chair, 2013 to 2016
  • Sixth Circuit Judicial Conference, Life Member
  • National Association of Professional Women

Certified Legal Specialties

  • Certified in Business Bankruptcy Law, American Board of Certification

Current Employment Position

  • Founding Member