Divorce and Bankruptcy Planning

By: Jamie L. Harris For many couples facing a potential divorce, dealing with marital debt and property settlement arrangements can be overwhelming.  Financial issues frequently cause divorce. Rather than assigning liability to your various marital debts, it may be simpler to file a joint petition for bankruptcy relief.  Debt that

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Fiscal Distress in Kentucky Counties: What’s Next?

Laura Day DelCotto ©2017 The 2016 US Census Report was sourced in the recent Lexington Herald- Leader article, reporting that Kentucky has the distinction of containing about 30% of the Top 30 poorest counties in the United States.   This really shouldn’t come as any surprise to anyone who keeps up

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Legal Claims as Assets in Chapter 11

By: Dean Langdon It’s not unusual for a company in financial distress to be involved in some sort of litigation, with claims being asserted back and forth between one or more parties. One of the benefits of filing bankruptcy is the automatic stay, which stops prosecution of most legal actions

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Lexington Business Bankruptcy Attorney Dean Langdon

Dean Langdon Named to 2017 Best Lawyers List

Attorney Dean Langdon was once again selected by his peers for inclusion the 23rd Edition of The Best Lawyers in America© in the practice areas of Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law and Litigation – Bankruptcy, for Lexington, Kentucky. Since it was first published in 1983,

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Administrative Expense Claims, bankruptcy, sixth circuit, court

Sixth Circuit: Administrative Expense Claims Standard

By requesting payment of an administrative expense claim, the movant has the burden of proof and must demonstrate that the expenses were “reasonable, necessary and benefited the estate.” In re Cook & Sons Mining, Inc., 2005 U.S. Dist. LEXIS 21615 (E.D. Ky. Sept. 28, 2005). The Sixth Circuit normally utilizes

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SARE, Single Asset Real Estate Debtor

Dare to SARE: Single Asset Real Estate Debtors

Dare to SARE: Single Asset Real Estate Debtors DEFINING “SARE’S” The term “single asset real estate” is defined in 11 U.S.C. § 101(51B) as “real property constituting a single property or project, other than residential real property with fewer than 4 residential units, which generates substantially all of the gross

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Alimony, Maintenance or Support, Oh My!

If a soon-to-be debtor is divorced or is going through a divorce, one of the things that a bankruptcy practitioner must look at is the property settlement agreement, the notice of division or property, whatever you want to call it.  The bankruptcy attorney better know what is in that document

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SCOTUS on Bankruptcy Jurisdiction: Prediction

On June 9, 2014, SCOTUS issued one of its rare birds —  a 9-0 ruling.     While all the Justices are unanimously united, the rest of us are now dealing (yet again) with another wrinkle-trying to understand what the heck they are talking about.   In the case of  Executive Benefits Insurance Agency

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Automatic Stay: What is it?

The foundational goal of the bankruptcy system is to provide deserving debtors with relief from their debts so that they can obtain a “fresh start.” This process starts at the moment that a debtor files for bankruptcy case through the “automatic stay.” The automatic stay is a portion of the

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Chapter 11 Decisions: Absolute-Priority Rule Stands

THE SIXTH CIRCUIT COURT OF APPEALS RULES THAT THE ABSOLUTE- PRIORITY RULE STILL APPLIES IN INDIVIDUAL CHAPTER 11 CASES The Sixth Circuit Court of Appeals recently issued an opinion reversing the lower bankruptcy court’s holding that the absolute- priority rule no longer applies to individual Chapter 11 cases following the

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