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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...
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...
By: Laura Day DelCotto In financial workout, litigation and bankruptcy settings, we often see problems and disputes which have arisen in limited liability company (LLC) settings. More often than not, financial issues among and between members bubble up to the surface....
Chapter 11 Bankruptcies and discretionary bonuses By: Laura Day DelCotto A May 2019 Delaware Bankruptcy Court opinion provides a detailed analysis of why the Judge dismissed fraudulent conveyance claims. Claims were filed in numerous adversary proceedings by the...
The new legislation could make filing Chapter 11 Bankruptcy appealing to small businesses Filing for chapter 11 bankruptcy relief should be easier for small businesses by February 2020 when the Small Business Reorganization Act of 2019 becomes effective. The...
By: Laura Day DelCotto I recently attended a national panel presentation involving a workout consultant, a banker and an attorney. Yes, it sounds like the start of a joke, but this group discussion was spot-on as to what “restructuring professionals” see on a day to...
By: Dean A. Langdon Many small business owners form limited liability companies (LLC’s) for liability and tax reasons. And Kentucky courts have made it clear that an LLC with only one member is a separate legal entity. Therefore, debts of the LLC are not debts of the...
Forever 21 Files for Chapter 11 Bankruptcy Protection By: Laura Day DelCotto With the amount of money I have personally spent over the years at Forever 21, shopping with a teenage daughter, I find it somewhat hard to believe that Forever 21 has now filed for Chapter...
