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By: Dean A. Langdon Thousands of households had the opportunity to get a break on their mortgage payments during the Covid-19 pandemic. Foreclosures on many residential mortgages were prohibited, which certainly helped avoid a homelessness crisis during the pandemic....
Buying a franchise may be an effective way to become a successful business owner. However, if you file for bankruptcy in Kentucky, there is a chance that you will lose your franchise during or after the case has been discharged. Let's take a deeper dive into what...
In 2021, Gartland Thacker DelCotto PLLC filed more chapter 11 bankruptcy cases in the Eastern District of Kentucky than any other firm. [1] Chapter 11 bankruptcy provides an opportunity for corporations to restructure their organizations through implementation of a...
The widespread collapse of businesses could happen when economic times take a terrible downturn. The Great Depression saw many businesses close their doors, and don't assume a similar economic catastrophe becomes necessary to see entrepreneurs rush to file bankruptcy...
Chapter 13 bankruptcy permits individuals with regular income to file a three to five-year repayment plan to address their debts. There are several advantages to filing Chapter 13 bankruptcy as opposed to Chapter 7 bankruptcy. Here are (5) five primary reasons...
Bankruptcy Judge Charles R. Merrill issued an opinion[1] on January 10, 2022 that proceeds from the pre-petition sale of a homestead not being exempt under the federal exemption 11 U.S.C. §522(d)(1. This provides, in relevant part, for an exemption in “the debtor’s...
By: Dean A. Langdon has many small business owners as clients. When a small business borrows funds, the lender often requires a personal guarantee from the business owners. A recurring issue is what happens to the guarantee if a business...
Many small businesses in Kentucky and throughout the country have had a difficult couple of years. If your business took on more debt than it could afford, you may be considering filing for business bankruptcy. One option your company might have is a Chapter 11...
You have probably heard the term “short sale” before but may not be familiar with what the short sale process entails. A short sale can be an alternative to foreclosure for financially distressed homeowners. A short sale involves selling a home for less than the...
By: Dean A. Langdon It has long been the rule in bankruptcy cases that the price received for real property at a foreclosure sale was “reasonably equivalent value” and the transfer could not be set aside as a fraudulent transfer under 11 U.S.C. § 548. BFP v....
