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...
Our Clients Receive Individualized Attention And Advice
Debt
Life Insurance and Beneficiary Changes on Eve of Bankruptcy
By: Laura Day DelCotto Issues with life insurance are a bit murky in bankruptcy filings. It is important to understand the nature of the debtor’s interest, vs other parties’ interests. Who is the owner of the policy? Who are the beneficiaries of the policy? Is there...
Free-falling in Chapter 11 Bankruptcy
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!) ...
Barriers to Starting Over in Business
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...
Should I Make Partial Payment on My Debt?
At Least One Reason to Say No/Pay With Reservation By: Laura Day DelCotto We deal every day with borrowers who are behind in their monthly payments. Most often, we work with borrowers to attempt to restructure their payments. This would be done outside of any court...
Student Loan Borrowers’ Involuntary Case Against Navient Dismissed
By: Laura Day DelCotto As you may know, 3 student loan borrowers joined forces recently to file an involuntary petition against Navient Solutions LLC on February 8, 2021 in the United States Bankruptcy Court for the Southern District of New York. Navient Solutions is...
Upcoming Extension of Subchapter V from CARES Act
Small Businesses will Benefit from the Chapter 11 Provisions Update 3/29/2021: This provision has been extended to June 2022. New legislation to extend an important provision to the CARES Act was just introduced. Should it be passed, the Subchapter V bankruptcy...
DelCotto Law Group Leads in 2020 Chapter 11 Bankruptcies
DLG: Most Eastern District Kentucky Filings of Chapter 11 In 2020, DelCotto Law Group PLLC filed more chapter 11 bankruptcy cases in the Eastern District of Kentucky than any other firm. [1] Additionally, the firm filed 45% of small business cases in 2020 in the...
Take-Aways From the UK Gatton 32nd Economic Outlook Conference February 3, 2021
By: Laura Day DelCotto Sitting in the Zoom audience at the UK Gatton Conference, I listen to Kevin Kliesen with the Federal Reserve Bank of St. Louis first acknowledge the difficulties in attempting to forecast our economic future. While “uncertainty remains high,”...
Options for Struggling Businesses
Exploring Options Other than Bankruptcy When your business is struggling, you may want to speak with an attorney to discuss options such as financial workouts. In this short video, Dean A. Langdon discusses why it’s important to explore your options with an attorney...