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By: Laura Day DelCotto The Eighth Circuit recently affirmed the appeal by the “Ad Hoc Committee of Non-Consenting Creditors” of the 2017 confirmation of the Chapter 11 Plan of Peabody Energy, In re Peabody Energy Corp., No. 18-1302 (August 9, 2019 ). I would say that...
By: Dean A. Langdon Marriage involves sharing risks and rewards with a spouse. Entrepreneurial couples may establish a business together, or one spouse may establish a business and exclude their spouse due to the risk of economic loss. After all, between 20-50% of...
By: Laura Day DelCotto I recently had a conversation with a contact from eastern Kentucky, who told me that the County Judge Executive of his particular county had stated that county governments in Kentucky are prohibited from filing for bankruptcy. That is...
By: Laura Day DelCotto There are many cases that stand for the proposition that bankruptcy courts are “courts of equity,” but what does that really mean? To the lay person, this sounds like it means that bankruptcy courts have wide discretion to be fair and avoid...
By: Laura Day DelCotto I recently attended a session where state officials, judges and bond attorneys discussed some of the reasons that they have encountered as to why municipal entities suffer financial struggles. The point was made that while governmental distress...
If you receive notice that a customer or client has filed for Chapter 7 bankruptcy relief, there are certain things you need to know about the bankruptcy process. First, you should cease any pre-petition collection efforts. The automatic stay afforded by the...
If you or your company is dealing with tax debt, getting resolution of the debt can seem overwhelming, especially when penalties and interest are considered. Typically, whether you are dealing with the state or federal government, payment plans are available. ...
By: Laura Day DelCotto Under the Bankruptcy Code, every 3 years, certain debt limits and the exempt assets limits increase. This is done to keep up with inflation. The amounts recently were raised for all cases filed after April 1. Most of our individual clients ask...
If you are facing a garnishment, attachment or execution on a judgment in Kentucky, you are probably wandering what personal property you own is exempt from creditor attachment. Under KRS 427, many items of personal property are exempt from judgment creditor seizure...
If you are dealing with significant credit card debt, filing a personal Chapter 7 or Chapter 13 bankruptcy may be a viable option for addressing credit cards if you are eligible for those chapters. In a Chapter 7 bankruptcy, the debt is listed and discharged upon...
