Small Business Reorganization Act of 2019

The new legislation could make filing Chapter 11 Bankruptcy appealing to small businesses By: Jamie L. Harris Filing for chapter 11 bankruptcy relief should be easier for small businesses by February 2020 when the Small Business Reorganization Act of 2019 becomes effective. The legislation which President Trump signed back in

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My Business is in Financial Trouble: Now What?

By: Laura Day DelCotto I recently attended a national panel presentation involving a workout consultant, a banker and an attorney.  Yes, it sounds like the start of a joke, but this group discussion was spot-on as to what “restructuring professionals” see on a day to day basis. Some take-away thoughts:

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November Community Events

DLG attorneys and paraprofessionals are actively involved in the central Kentucky community.  We strive to make central Kentucky a better place to live, work and relax for everyone.  On Friday, November 8th, DLG will be attending the American Heart Association “Go Red” Luncheon in Lexington, KY. The Go Red for

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Bankruptcy and Single Member LLC’s

By: Dean A. Langdon Many small business owners form limited liability companies (LLC’s) for liability and tax reasons. And Kentucky courts have made it clear that an LLC with only one member is a separate legal entity. Therefore, debts of the LLC are not debts of the owner. Pannell v.

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Being Prepared for Disasters

Financial Security and Disaster Planning By: Laura Day DelCotto Since 2004, each September has been designated as National Preparedness Month.  Efforts by multiple federal, state and local agencies seek to promote and encourage family, business, and community emergency planning. Many online sites such as National Safety Council and the government

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Credit Matters After Bankruptcy

The Fair Credit Reporting Act: Damages for Inaccurate Reporting After Bankruptcy By: Michael J. Gartland Every person who has ever been extended credit should obtain a free, annual credit report. These could be obtained from the three consumer reporting agencies (TransUnion, Equifax and Experian). They should check to see if

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October Community Events

DLG attorneys and paraprofessionals are actively involved in the central Kentucky community.  We strive to make central Kentucky a better place to live, work and relax for everyone.  From Wednesday, October 23rd to Friday October 25th, DLG will be a sponsor and attend the KACo Conference in Jefferson County, KY

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Forcing Someone into Bankruptcy: Who Wants to Go First?

By: Laura Day DelCotto The Bankruptcy Code clearly permits creditors to initiate an involuntary bankruptcy filing, and the Official Forms contain the simple paperwork to start the process.  11 U.S.C. §303.  However, the risks of being accused by the putative debtor of a “bad faith” filing are probably better than

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How to Get an Admin Claim

The Gold Standard for Chapter 11 Bankruptcy By: Laura Day DelCotto The Fifth Circuit recently issued an opinion that provides some guidance for seeking an allowed administrative claim (commonly called an “Admin Claim”) during a chapter 11 case.   It should be required reading:  while the facts arise from an oil

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