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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...
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...
By: Laura Day DelCotto Financial fears and stress are without a doubt to be some of the most serious health risks, ranking up there with other life-altering events such as the death of a loved one, divorce, or job loss. In times of ultimate stress in our lives, it is...
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...
The Fair Credit Reporting Act: Damages for Inaccurate Reporting After Bankruptcy By: Michael J. Gartland Every person who has ever been extended credit should obtain a free, annual credit report. These could be obtained from the three consumer reporting agencies...
By: Laura Day DelCotto The Bankruptcy Code clearly permits creditors to initiate an involuntary bankruptcy filing, and the Official Forms contain the simple paperwork to start the process. 11 U.S.C. §303. However, the risks of being accused by the putative debtor of...
