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As the United States faces the global pandemic of the Covid-19 virus, we are seeing the effects everywhere. The stock market continues to decline, oil prices remain depressed, all major sports have been canceled, large plants and factories have temporarily closed and...
Debtors Can Elect to Use the SBRA Provisions Even if the Case Was Pending Before Effective Date By: Dean A. Langdon On February 19, 2020 the Small Business Reorganization Act (SBRA) became effective, providing a streamlined, simpler Chapter 11 bankruptcy process for...
When small business owners file for chapter 11 bankruptcy, seldom do they reflect on the impact of bankruptcy on affiliated entities. In bankruptcy, insider[1] transactions are subject to heightened scrutiny. It is not uncommon to have a debtor that operates a...
In Re Donnadio By: Dean A. Langdon The key focus in a Chapter 13 bankruptcy is the plan, because it determines how creditors will be treated during the case. Historically, each bankruptcy district had its own version of a plan, and provisions for treatment of...
If you are an accountant today, you will more likely than not have a corporate client at some point that is in a Chapter 11 bankruptcy proceeding. The role of an accountant in Chapter 11 proceedings is vital. It is important to know that as an accountant you are a...
By: Heather G. Pennington Not only will filing bankruptcy immediately stop a creditor from continuing to garnish your paycheck—in some cases bankruptcy will actually allow you to get some of your money back! If a creditor has garnished more than $600 from a debtor in...
Open Records/Open Meetings Issues Still Apply By: Laura Day DelCotto Most bankruptcy attorneys (as well as bankruptcy judges) do not normally run up against “open records” laws in the vast majority of their work. Of course, the local government leadership and all...
Individual Business Owners Can Lose the Right to Discharge Their Debts in Bankruptcy By: Dean A. Langdon The ultimate goal of every individual filing bankruptcy is to be released, or discharged, from the obligation to repay debts. Bankruptcy laws put conditions on...
What the Retail, Trucking, Oil and Gas Industries Face Going Into a New Decade By: Dean A. Langdon The pundits tell us that the economy is doing very well, and by some measures, that’s true. But there are always industries in our economy that are undergoing financial...
Celadon Group Filed for Chapter 11 Bankruptcy By: Dean A. Langdon Celadon Group, a trucking company based in Indianapolis, Indiana, filed a chapter 11 bankruptcy in Delaware on Monday, December 9th. Celadon has almost 2,700 trucks in the United States, Canada and...
