Business

Financial Distress: Further Reflections

By: Laura Day DelCotto In my final blog of 2020, I mused on take-aways about “dumb things” management does when succumbing to financial distress fears. And I will say, the so-called “dumb” things are really about emotional intelligence and how stress affects each of us. Financial stress is proven to

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Learn from Others: Lessons for Distressed Companies

By: Laura Day DelCotto As the year winds down, I attended a panel discussion entitled “Dumbest Things Companies Do in Distress.” The panelists were long-time experienced attorneys, bankers, and turn-around consultants. It’s going to be interesting (and maybe scary) to watch a newer generation of professionals who have never been through

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Restaurant Grants Available for Limited Time in Kentucky

KY Assistance During the Pandemic By: Jamie L. Harris With the Covid-19 pandemic, restaurant owners have faced serious challenges in trying to keep their establishments open and pay employees.  Governor Andy Beshear recently required closure of indoor dining facilities for bars and restaurants until mid-December. While this restriction is for

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Can the LLC Pay My Legal Fees?

Factors to Consider During Legal Disputes Between LLC Partners in KY By: Laura Day DelCotto We often see situations of business divorce and the falling out among small business co- owners. In this age of online legal forms, we also often see Operating Agreements that the 2 or 3 owners

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Revisiting Forbearance Agreements in a Pandemic

By: Laura Day DelCotto The last five or more years have been ‘happy days are here again’ for cheap money and rising asset values. Piling on more and more debt has been encouraged and easy, including multiple tranches, secured positions and waterfalls. Repaying the debt, as opposed to selling the

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SBRA Chapter 11 Bankruptcy Eligibility

Can I File a Subchapter V SBRA Case if My Business is Closed Down? The Answer is Yes! By: Laura Day DelCotto The caselaw on the new 2020 Small Business Reorganization Act (“SBRA”), which is found in the new “Subchapter V” of the Chapter 11 Bankruptcy statutes, continues to roll

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“CARES” Act: How to Care for My Small Business Right Now

By: Laura Day DelCotto As we all know by now, the “Coronavirus Aid, Relief and Economic Security Act” (CARES Act) includes some bankruptcy-specific provisions. These provisions provide enhanced relief for individuals and businesses negatively impacted by the coronavirus pandemic and shutdowns. Of great importance to small businesses, the CARES Act amended

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