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:
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 Friday, November 8th, DLG will be attending the American Heart Association “Go Red” Luncheon in Lexington, KY. The Go Red for
By: Dean A. Langdon Many small business owners form limited liability companies (LLC’s) for liability and tax reasons. And Kentucky courts have made it clear that an LLC with only one member is a separate legal entity. Therefore, debts of the LLC are not debts of the owner. Pannell v.
Financial Security and Disaster Planning By: Laura Day DelCotto Since 2004, each September has been designated as National Preparedness Month. Efforts by multiple federal, state and local agencies seek to promote and encourage family, business, and community emergency planning. Many online sites such as National Safety Council and the government
Forever 21 Files for Chapter 11 Bankruptcy Protection By: Laura Day DelCotto With the amount of money I have personally spent over the years at Forever 21, shopping with a teenage daughter, I find it somewhat hard to believe that Forever 21 has now filed for Chapter 11. This just
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 (TransUnion, Equifax and Experian). They should check to see if
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. From Wednesday, October 23rd to Friday October 25th, DLG will be a sponsor and attend the KACo Conference in Jefferson County, KY
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 a “bad faith” filing are probably better than
The Gold Standard for Chapter 11 Bankruptcy By: Laura Day DelCotto The Fifth Circuit recently issued an opinion that provides some guidance for seeking an allowed administrative claim (commonly called an “Admin Claim”) during a chapter 11 case. It should be required reading: while the facts arise from an oil
By: Jamie L. Harris Being from a small town in Western Kentucky, Fred’s retail discount stores have been a staple in small town consumerism. Fred’s was one of my parents’ favorite bargain shopping stores. I was really disheartened to hear that the company would be liquidating its remaining 300 stores
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