Looming CMBS Loan Maturities

Looming CMBS Loan Maturities 2015 to 2017 By Laura Day DelCotto The commercial mortgage-backed securities (CMBS) market exploded in the early 1990s as a huge new source of capital for commercial real estate projects.   As many of these debts begin to mature in 2015, the forecast is uncertain.    Some predict

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Divorce & Bankruptcy

By Jamie L. Harris Divorce and bankruptcy are closely related, especially since many divorces are caused by financial problems.  A couple going through divorce should explore if a joint bankruptcy filing is beneficial. First, a couple must be legally married to file a joint bankruptcy petition.  A couple can be

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“I’m not paying payroll taxes”

By Jamie L. Harris One of the major common financial mistakes that I see business owners make is failure to pay employment taxes. As many businesses are facing limited cash flow, too often payroll taxes go unpaid as business owners opt to pay other debts. The payment of such taxes

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Kentucky Law Approach to Contract Formation

When Is A Deal a “Done Deal” Under Kentucky’s “All Or Nothing” Approach To Contract Formation? By: Michael J. Gartland, Esq. On October 9, 2014, the Litigation Department (consisting of the author and J. Wesley Harned, Esq.) of DelCotto Law Group PLLC knocked out JPMorgan Chase Bank, N.A. (“Chase”) with respect

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How Can I Stop a Garnishment?

A pending garnishment can be very stressful. After all, we are talking about your money and how you pay your bills, eat, and live. If a creditor sues you and obtains a judgment against you, then after entry of the judgment, the creditor may proceed to garnish your wages or

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Unpaid Property Taxes

By: Jamie L. Harris, Esq. A quick note on property taxes. Timely payment of property taxes can result in the avoidance of loan default, foreclosure proceedings and long term savings. When property taxes are not paid, they are typically sold to third parties who hold the claims while they continue

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Alternatives to Foreclosure

by Jamie L. Harris If you are facing a foreclosure suit and are concerned about getting the most value for your home to reduce any potential deficiency claim, there are a number of alternatives to foreclosure:  Private Sale.  If you can find a buyer for your home prior to the

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Prepackaged Chapter 11 Bankruptcy Plans

by Jamie L. Harris In addition to an out-of –court restructuring where a debtor restructures its debt outside of a bankruptcy proceeding, there are different routes to accomplish a restructuring through a Chapter 11 bankruptcy.  A typical Chapter 11 bankruptcy case begins with the debtor filing a bankruptcy petition, certain

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Assessing the Fiscal Health of Rural Hospitals

The Auditor of Public Accounts has released information on a plan to conduct a series of 10 public hearings to assess the financial health of rural hospitals. The full press release is below. This is an urgent issue for Kentuckians who may begin to see their access to rural hospitals

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What is Bankruptcy?

WHAT IS BANKRUPTCY? The filing of a petition for relief under the Bankruptcy Code commences a legal proceeding, referred to as a bankruptcy case. Any disputes in your case will be heard by a bankruptcy judge in federal bankruptcy court. Bankruptcy provides debt-strapped individuals with a fresh start. The filing

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