Forever 21 Files for Chapter 11 Bankruptcy Protection By: Laura Day DelCotto With the amount of money I have personally spent over the years at Forever 21, shopping with a teenage daughter, I find it somewhat hard to believe that Forever 21 has now filed for Chapter 11. This just
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
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
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
By: Jamie L. Harris Being from a small town in Western Kentucky, Fred’s retail discount stores have been a staple in small town consumerism. Fred’s was one of my parents’ favorite bargain shopping stores. I was really disheartened to hear that the company would be liquidating its remaining 300 stores
Farmers Have More Freedom to File Bankruptcy Under New Chapter 12 Law By: Laura Day DelCotto Everyone is on the edge of their seats, waiting for President Trump to sign several pending bills impacting bankruptcies in the United States. One of them is the Family Farmer Relief Act of 2019,
By: Laura Day DelCotto The Eighth Circuit recently affirmed the appeal by the “Ad Hoc Committee of Non-Consenting Creditors” of the 2017 confirmation of the Chapter 11 Plan of Peabody Energy, In re Peabody Energy Corp., No. 18-1302 (August 9, 2019). I would say that when the Court points out,
By: Dean A. Langdon Marriage involves sharing risks and rewards with a spouse. Entrepreneurial couples may establish a business together, or one spouse may establish a business and exclude their spouse due to the risk of economic loss. After all, between 20-50% of small businesses fail within the first 5
By: Laura Day DelCotto I recently had a conversation with a contact from eastern Kentucky, who told me that the County Judge Executive of his particular county had stated that county governments in Kentucky are prohibited from filing for bankruptcy. That is incorrect. While none of the 120 Kentucky counties
By: Laura Day DelCotto There are many cases that stand for the proposition that bankruptcy courts are “courts of equity,” but what does that really mean? To the lay person, this sounds like it means that bankruptcy courts have wide discretion to be fair and avoid injustices and abuses of
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