Blog

Business Bankruptcy and Disclosing Assets

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 being released from this obligation, and if an

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2020 Distressed Industry Outlook

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 distress, and the

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Largest Trucking Company Bankruptcy

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 Mexico, and furthermore employs almost 2,900 drivers and

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LLC Operating Agreements: Not Just a Form

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. Being the most solvent of all the members is

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December Community Events

DLG attorneys and paraprofessionals are actively involved in the central Kentucky community.  We strive to make central Kentucky a better place to live, work and relax for everyone.  On Tuesday, December 3rd, DLG will participating in the Central Kentucky American Inns of the Court collection for “Toys for Tots”. This

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Finding Gratitude in the Face of Financial Stress

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

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Employee Bonus Payments have “Value”

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 post-confirmation liquidation trustee. They were filed against former employees who had received

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Small Business Reorganization Act of 2019

The new legislation could make filing Chapter 11 Bankruptcy appealing to small businesses By: Jamie L. Harris 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 legislation which President Trump signed back in

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My Business is in Financial Trouble: Now What?

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 day basis. Some take-away thoughts:

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