KY Assistance During the Pandemic With the Covid-19 pandemic, restaurant owners have faced serious challenges in trying to keep their establishments open and pay employees. Governor Andy Beshear recently required closure of indoor dining facilities for bars and...
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Legal Options for Financial Distress
Dean Langdon on Good Day Kentucky discusses Bankruptcy and Other Options for Businesses and Individuals Legal Options For Financial Distress
Can the LLC Pay My Legal Fees?
Factors to Consider During Legal Disputes Between LLC Partners in KY By: Laura Day DelCotto We often see situations of business divorce and the falling out among small business co- owners. In this age of online legal forms, we also often see Operating Agreements that...
Revisiting Forbearance Agreements in a Pandemic
By: Laura Day DelCotto The last five or more years have been ‘happy days are here again’ for cheap money and rising asset values. Piling on more and more debt has been encouraged and easy, including multiple tranches, secured positions and waterfalls. Repaying the...
SBRA Chapter 11 Bankruptcy Eligibility
Can I File a Subchapter V SBRA Case if My Business is Closed Down? The Answer is Yes! By: Laura Day DelCotto The caselaw on the new 2020 Small Business Reorganization Act (“SBRA”), which is found in the new “Subchapter V” of the Chapter 11 Bankruptcy statutes,...
“CARES” Act: How to Care for My Small Business Right Now
By: Laura Day DelCotto As we all know by now, the “Coronavirus Aid, Relief and Economic Security Act” (CARES Act) includes some bankruptcy-specific provisions. These provisions provide enhanced relief for individuals and businesses negatively impacted by the...
Tale as Old as Time: The Importance of Accurate Schedules in Bankruptcy
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...
Small Business Reorganization Act:
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...
Cannabis: Marijuana Exemplifies that Cash is (Not Always) King
By: Laura Day DelCotto We write often about one of the oldest sayings in the financial restructuring business: “Cash is King.” Without liquidity, all bets are off as to what viable options may exist for going forward. Yet in the cannabis industry, there is a different...
Can the Trustee Recover Any Increase in the Value of My Home?
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....