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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....
A lot of businesses in Kentucky experience serious financial hardships that they can eventually recover from. Chapter 11 bankruptcy is designed for businesses that need to reorganize their debt rather than liquidate it. During the Chapter 11 bankruptcy process, a...
By: Laura Day DelCotto A recent case out of the Delaware Bankruptcy Court made clear that the exact wording of the standard “critical vendor” order is important. The case is a great reminder that even boiler-plate orders entered in conjunction with first day hearings...
By: Laura Day DelCotto There is a huge public policy debate currently going on in the corporate bankruptcy world over mass litigation/mass tort chapter 11 cases. The recent mass tort defendants who have ended up in a chapter 11 include the Boy Scouts of America, USA...
For Kentucky residents who are experiencing financial struggles, bankruptcy can provide some relief and help with getting to a better financial situation. However, many hesitate because they are concerned about its future impact. Some might wonder if their current and...
Merchant cash advance agreements typically involve selling your business receivables at a price with a significant fee. This fee is repaid usually on a daily or weekly basis by debiting a certain percentage of your business receivables. These types of agreements are...
