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By: Laura Day DelCotto In our many chapter 11 coal-industry cases over the years, the surety bonding company always plays a very major role in the case. The bonding company issues are detailed and fact-intensive, dealing with multiple bonds, bond collateral, permits,...
By: Laura Day DelCotto A recent case out of the Delaware Bankruptcy Court made clear that the exact wording of the standard “critical vendor” order is important. The case is a great reminder that even boiler-plate orders entered in conjunction with first day hearings...
Merchant cash advance agreements typically involve selling your business receivables at a price with a significant fee. This fee is repaid usually on a daily or weekly basis by debiting a certain percentage of your business receivables. These types of agreements are...
If your company has been served with a lawsuit asserting preference claims, you will need to file an answer or other responsive pleading on or before the deadline asserted in the summons. To properly evaluate defenses, you will need to locate and identify the checks,...
By: Laura Day DelCotto Times have changed. In the past, troubled companies often had some limited unencumbered assets to pay unsecured creditors. “Unencumbered assets” means cash, litigation claims, tangible and intangible assets that did not have liens on them. Times...
By: Laura Day DelCotto I noticed this week that there were two recent senior living-related chapter 11 bankruptcy filings. One in New York and the other in Delaware. This could be one looming example of types of nation-wide fall outs from industry-wide COVID changes....
Valuations in Distress By: Laura Day DelCotto I wish a “freefall” chapter 11 bankruptcy was as awesome as when Jerry Maguire is driving through the Texas countryside after his handshake deal landing Cush. (Handshake deals are a whole ‘nother issue entirely!) ...
By: Dean A. Langdon When a small business falls on hard times, the owners often look for ways to start over. While no one can take away the entrepreneur’s business acumen, when creditors take back equipment, machinery, facilities or receivables, keeping a business...
CARES ACT Critical Deadline for Small Business Extended On March 26, 2020, Congress passed bipartisan legislation to extend various Covid-19 bankruptcy relief provisions included in the March 2020 CARES Act. The legislation was designed to extend bankruptcy relief to...
Due to the Covid-19 pandemic, some people have erroneously believed that the court systems are completely closed and that you cannot currently file for bankruptcy. Contrary to this misconception, bankruptcy courts are open in Kentucky but court hearings are being held...
