Blog

2015 Industry Projections: Who’s in Trouble?

2015 Industry Projections: Who’s in Trouble? By: Laura Day DelCotto, Esq. Reuters recently conducted a survey of restructuring professionals for thoughts on looming economic distress in 2015.  The results are not particularly surprising.   The common theme is today’s “VUCA” world.  It is imperative to react on a dime, and that

Read More
debtor-in-possession

Five Key Debtor Duties in Chapter 11 Bankruptcy

Five Key Debtor Duties in Chapter 11 Bankruptcy Filing for Chapter 11 bankruptcy involves substantially more effort than the filing of the bankruptcy petition and related documents. Upon filing for Chapter 11 relief, a debtor has new duties and is commonly referred to as a “debtor-in-possession.” The debtor has fiduciary

Read More
forbearance agreements, bankruptcy

Drafting Forbearance Agreements

Drafting Forbearance Agreements:  A Road Map to Resolving a Troubled Loan             When faced with a matured loan or a borrower that is otherwise in default and lacks the funds necessary to satisfy the loan in full, some lenders are quick to resort to traditional collection methods like foreclosure.  In

Read More

Pre-negotiated Chapter 11 Plans

Pre-Negotiated Chapter 11 Bankruptcy Plans by Jamie L. Harris If a company has insufficient time or ability to complete a fully prepackaged Chapter 11 bankruptcy case, an alternative is a pre-negotiated plan which is quite similar to a prepackaged plan. A pre-negotiated plan, like a prepackaged plan, involves prepetition negotiations

Read More
When doctors, lawyers, accountants file for bankruptcy

Professionals and Bankruptcy: Issues, Risks and Opportunities

Professionals and Bankruptcy: a high-level overview by Dean Langdon Those who practice a profession tend to be well-respected and well-compensated by society for their services and contributions. But, mastering a profession does not automatically translate to business success.  As a lawyer, I left law school with limited insight into how to start,

Read More
Does my spouse have to file bankruptcy?

Does my spouse have to file bankruptcy?

I’m married, does my spouse have to file bankruptcy? by Jamie L. Harris I frequently meet with individuals for consultation regarding personal bankruptcy and one of the most commonly asked questions is “does my spouse have to file bankruptcy” relief.  There is no requirement that your spouse file for bankruptcy

Read More

Softening the Standard for Discharge of Student Loan Debt

According to data compiled by the Federal Reserve, national student loan debt in the United States rose an astounding 275% from 2003 ($241 billion) to 2012 ($904 billion).  This surge in student loan debt was no doubt spurred by the economic downturn, as people who lost jobs or could not

Read More

Someone Who Owes Me Money Filed for Bankruptcy

By Jamie L. Harris Creditors who receive a notice from a debtor in a Chapter 11 bankruptcy case may find the Chapter 11 bankruptcy process overwhelming and confusing.  If someone owes you money that makes you a creditor, and them a debtor.  As a creditor, it is critical to understand

Read More

Feasibility: Confirming a Chapter 11 Plan

By Jamie Harris In order to obtain confirmation of a Chapter 11 plan of reorganization, a plan proponent must demonstrate by a preponderance of the evidence that confirmation of the debtor’s plan is not likely to be followed by the liquidation, or the need for further financial reorganization, of the

Read More