Valuations in Distress By: Laura Day DelCotto I wish a “freefall” chapter 11 bankruptcy was as awesome as when Jerry Maguire is driving through the Texas countryside after his handshake deal landing Cush. (Handshake deals are a whole ‘nother issue entirely!) Unfortunately, not so much. How is Freefall Chapter 11
By: Dean A. Langdon When a small business falls on hard times, the owners often look for ways to start over. While no one can take away the entrepreneur’s business acumen, when creditors take back equipment, machinery, facilities or receivables, keeping a business going is tough. There are ways to
CARES ACT Critical Deadline for Small Business Extended By: Jamie L. Harris On March 26, 2020, Congress passed bipartisan legislation to extend various Covid-19 bankruptcy relief provisions included in the March 2020 CARES Act. The legislation was designed to extend bankruptcy relief to individuals, families, and small businesses impacted by
By: Jamie L. Harris Due to the Covid-19 pandemic, some people have erroneously believed that the court systems are completely closed and that you cannot currently file for bankruptcy. Contrary to this misconception, bankruptcy courts are open in Kentucky but court hearings are being held mostly telephonically. In the Eastern
At Least One Reason to Say No/Pay With Reservation By: Laura Day DelCotto We deal every day with borrowers who are behind in their monthly payments. Most often, we work with borrowers to attempt to restructure their payments. This would be done outside of any court process like state court
Small Businesses will Benefit from the Chapter 11 Provisions Update 3/29/2021: This provision has been extended to June 2022. New legislation to extend an important provision to the CARES Act was just introduced. Should it be passed, the Subchapter V bankruptcy provision will be extended to March 27, 2022. This
DLG: Most Eastern District Kentucky Filings of Chapter 11 By: Jamie L. Harris In 2020, DelCotto Law Group PLLC filed more chapter 11 bankruptcy cases in the Eastern District of Kentucky than any other firm. [1] Additionally, the firm filed 45% of small business cases in 2020 in the Eastern
No Standing to Appeal in Coal Act Case By: Laura Day DelCotto Chief Bankruptcy Appellate Panel (“BAP”) Judge Tracey N. Wise recently authored an opinion reviewing some of the issues involved in appeals from bankruptcy court rulings. While not really new law, it is a good primer on at least
By: Laura Day DelCotto So many unnecessary issues that make this Debtor in Possession look so bad. A great case study in how not to land in front of a bankruptcy judge. First, how does an entity that is headquartered in Fairfax, VA and incorporated in New York “forum shop” to
By: Laura Day DelCotto Sitting in the Zoom audience at the UK Gatton Conference, I listen to Kevin Kliesen with the Federal Reserve Bank of St. Louis first acknowledge the difficulties in attempting to forecast our economic future. While “uncertainty remains high,” the Fed notes that most forecasters expect strong economic
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