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By: Laura Day DelCotto Clients who are considering whether to file for bankruptcy usually leave our office with their “homework.” We know that they grumble under their breath about the magnitude of work involved in locating the most accurate information that is...
Saving Money for Small Businesses By: Laura Day DelCotto The Small Business Reorganization Act (also commonly known as the “SBRA”) came at the exact right time. With everything else that has gone wrong in 2020, this is hopefully something that went right. Time will...
The coronavirus pandemic has caused widespread financial distress in the United States and across the world. Many Americans became unemployed due to the business shutdowns associated with the pandemic and small businesses faced dwindling operations and significant...
Chapter 9 Bankruptcy on the Radar By: Laura Day DelCotto Chapter 9 bankruptcy for municipal entities is coming to the forefront. All public officials need to be educated and informed to fulfill their duties as fiduciaries. This is necessary for the public interests of...
By: Dean A. Langdon Chapter 13 bankruptcy offers individuals the ability to avoid a foreclosure or pay debts that are not discharged. This is accomplished by turning over their disposable income to a trustee for a period of 3 to 5 years, who then pays creditors....
The Rarely Used Chapter 9 is Reviewed during Pandemic By: Laura Day DelCotto Mitch McConnell has received much press over a comment he knows to be impossible. States lack the ability to file bankruptcy under the Bankruptcy Code absent a Congressional amendment....
By: Dean A. Langdon Carl Coslow guaranteed a $4.5 million debt to a bank for a company he owned. The company struggled, and in November 2014 it sold a division on installment terms, with payments being made over several years. Those payments were assigned to the bank....
With so many Americans facing unemployment and furloughs, personal bankruptcy for many of those individuals may be inevitable. Individuals who have never had financial issues may find themselves forced into bankruptcy. First, bankruptcy courts are currently open....
By: Laura Day DelCotto Bankruptcy Judge Robert Grossman in the Eastern District of New York recently issued one of the first substantive court decisions. This decision was regarding the new Small Business Reorganization Act. This is commonly called the “SBRA”, which...
“Willful and Malicious Injuries” By: Dean A. Langdon When an individual completes a bankruptcy they get a discharge – a court order that permanently stops creditors from collecting debts. Not all debts are included in a discharge, such as child support, most taxes and...
