Blog

It’s Tax Day Again…

Extended Deadline Due to Pandemic By: Jamie L. Harris Today is the extended deadline to file federal U.S. income tax returns and state tax returns in Kentucky. You can apply for an extension, but remember to pay your estimated liability since any further extensions apply to filing deadlines only and

Read More

“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 coronavirus pandemic and shutdowns. Of great importance to small businesses, the CARES Act amended

Read More

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 tell as the bankruptcy courts across

Read More

Options Besides Bankruptcy During Covid-19

By: Jamie L. Harris The coronavirus pandemic has caused widespread financial distress in the United States and across the world. Many Americans became unemployed due to the business shutdowns associated with the pandemic and small businesses faced dwindling operations and significant profit loss. Many individuals and businesses have felt that bankruptcy

Read More

Money Crunch: Municipal Debt Coming Due

Chapter 9 Bankruptcy on the Radar By: Laura Day DelCotto Chapter 9 bankruptcy for municipal entities is coming to the forefront. All public officials need to be educated and informed to fulfill their duties as fiduciaries. This is necessary for the public interests of the constituency they serve.  Bond debt

Read More

Saving for Retirement in a Chapter 13 Bankruptcy

By: Dean A. Langdon Chapter 13 bankruptcy offers individuals the ability to avoid a foreclosure or pay debts that are not discharged. This is accomplished by turning over their disposable income to a trustee for a period of 3 to 5 years, who then pays creditors. Debtors are expected to

Read More

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 cash problem: too much

Read More

States in Bankruptcy? Not So Much

The Rarely Used Chapter 9 is Reviewed during Pandemic By: Laura Day DelCotto Mitch McConnell has received much press over a comment he knows to be impossible. States lack the ability to file bankruptcy under the Bankruptcy Code absent a Congressional amendment.  However, in Kentucky, every other type of local

Read More