DelCotto Law Group Files Majority of Chapter 11s

DelCotto Law Group Files Majority of Chapter 11’s

In 2015, DelCotto Law Group PLLC filed nearly sixty percent[1] of all Chapter 11 bankruptcy cases filed in the Eastern District of Kentucky.  This is an increase from 2014 when the firm filed nearly forty percent[2] of all Chapter 11 cases in the Eastern District of Kentucky. Chapter 11 filings in the Eastern District of Kentucky saw more than a fifty percent increase as a whole from 2014 to 2015.

Chapter 11 bankruptcy is a form of reorganization bankruptcy available to both corporations and individuals.  Although restructuring is a primary focus of Chapter 11, it is common for liquidations and sales to occur through a Chapter 11 plan or Section 363 sale.  Nationwide, Chapter 11 has gained attention in the past decade due to large filings like General Motors, Lehman Brothers, and Chrysler.  Regardless of the size of a business, Chapter 11 can be utilized by a company to develop a plan to deal with tax debt, secured debt, or unsecured debt including large judgments.

[1] Based on data from the PACER system, DelCotto Law Group PLLC filed 57.5% of all Chapter 11 filings in 2015.
[2] Based on data from the PACER system, DelCotto Law Group PLLC filed 37.5% of all Chapter 11 filings in 2014.

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