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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....
By: Laura Day DelCotto In our many chapter 11 coal-industry cases over the years, the surety bonding company always plays a very major role in the case. The bonding company issues are detailed and fact-intensive, dealing with multiple bonds, bond collateral, permits,...
When a Kentucky business is facing financial difficulties, it may want to continue operating while reorganizing its operations and debt through bankruptcy. If this is the case, it could meanwhile apply for something known as "debtor-in-possession" financing, which, if...
By: Laura Day DelCotto I don’t think I ever knew that there is an “American Gambling Association” but it does exist. The Association recently estimated that over 45 million Americans will be betting on NFL football games during the 2021 season. Much of this gambling...
By: Dean A. Langdon One of the federal laws that exists to protect consumers is the Fair Debt Collection Practices Act (the “FDCPA”). The FDCPA covers third-party debt collectors who are in the business of collecting consumer debts and generally prohibits harassing,...
If you have ever had a vehicle repossessed, you are probably aware that typically the lender sells the vehicle and will pursue you for any deficiency balance from the sale of the vehicle. For example, if you financed a vehicle for $25,000 and it sold for $15,000, then...
Gartland Thacker DelCotto PLLC is pleased to announce that we have been recognized in the 2022 U.S. News-Best Lawyers® “Best Law Firms” in the practice areas of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (Tier 1). Best Lawyers® and U.S....
