The ChamberWise Education Consortium and Financial Poise are pleased to announce the on-demand release of their jointly-produced webinar, “Turning Around Your Business: Planning/Executing a Turnaround.”
Available today, this webinar is designed to help business owners and executives understand what factors may force a company into a turnaround, formal restructuring, types of turnarounds, operational challenges, and setting goals for moving ahead.
“There are several key factors to identifying the need for a turnaround,” according to attorney Andrew Currie. “A business in crisis has several options, one of which may be bankruptcy, when all is said and done. Understanding your options and choosing the right one for your business will make all the difference.”
Now available on demand, “Turning Around Your Business: Planning/Executing a Turnaround” also addresses characteristics of a turnaround, dealing with creditors/fiduciary obligations, roles throughout the process, when to approach lenders, planning/preparing and execution, avoiding bankruptcy and saving jobs, among other related topics of discussion.

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In order to file for Chapter 7 bankruptcy, you must provide a copy of your most recent Federal tax return.  If you are going to be receiving a sizable refund, then you want to time your bankruptcy filing so that you do not have the refund forthcoming after your filing date.  This way, you are+ Read MoreThe post Tax Return & The Importance Of Timely Filing – Bankruptcy appeared first on David M. Siegel.

(posted 1 week 20 hours ago)

If regulators really want banks to invest more heavily in their communities then they should consider giving banks some reward, such as reduced deposit insurance premiums, for achieving a top CRA rating.

(posted 1 week 20 hours ago)

Cease and Desist LettersI am no fan of the famous cease and desist letters. I ask my own clients not to use them. Here’s why.

Los Angeles Bankruptcy Blog
(posted 1 week 21 hours ago)

With the help of Lakelaw’s foreclosure defense attorneys, the answer could be yes.  Just a few days ago, our client was within days of eviction. Her foreclosure case had been pending for almost three years. When her husband became terminally ill, he couldn’t work and he fell behind on the mortgage.
Our client’s husband died.  Our newly widowed client couldn’t focus a foreclosure – she was distraught. Eventually, the lender was granted a judgment and held a “sale” of the property.  There were no outside bidders so the property went “back” to the lender.  The lender then moved to evict our widow.
Our client tried to get money to buy the home from the lender so she and her children wouldn’t have to move. But she never did anything to try to stop the eviction.  She finally came to Lakelaw on a Tuesday afternoon and said she was to be out of the house by Thursday. The Sheriff was coming to move the client and her family if they were not out by mid-morning. In a whirlwind of activity, we prepared an appearance in her eviction case, had a motion to stay the eviction presented to the court, and scheduled an emergency hearing for Wednesday afternoon.

Lake Law Blog
(posted 1 week 21 hours ago)

DivorceWhen you and your spouse are coming to terms with your marriage and finances involved you may have questions that come about regarding divorce and bankruptcy. Depending on your situation you may be recommended to complete one before the other. Or, you may be able to complete each process at the same time depending on […]

(posted 1 week 22 hours ago)

Transparency and bankruptcy go hand in hand, but the bankruptcy judge overseeing a closely watched asbestos case has taken an unusual step to keep certain details shielded from public view.
Last month, unredacted transcripts from confidential court proceedings in the bankruptcy case of Garlock Sealing Technologies LLC were inadvertently made available to the public online. Once staff of the U.S. Bankruptcy Court in Charlotte, N.C., realized this, the transcripts were yanked from the court docket and replaced with their redacted versions.
But that’s not all. This week, U.S. Bankruptcy Judge George R. Hodges issued an order directing those who downloaded the unredacted transcripts to not only destroy the documents, including all hard and electronic copies, but to also provide the court with written certification that they’ve done so.
Gregg Leslie, the legal defense director for the Reporters Committee for Freedom of the Press, said he’s aware of prior court cases where confidential information has accidentally been made public but has never seen a court demand that any members of the public destroy information that they lawfully obtained from the court.
“You certainly understand why courts want to correct an error… but they can’t tell people to unlearn something that they’ve learned form a court record,” Mr. Leslie said told Bankruptcy Beat Wednesday. Bankruptcy Beat
(posted 1 week 22 hours ago)

Distressed asset purchasers should be aware of a recent decision, In re Marko, in which the bankruptcy court for the Western District of North Carolina called into question a trustee’s ability to sell estate assets free and clear of certain claims and interests, including claims and interests held against co-owners of the target assets.
The dispute in that case centered on a lake house property that was co-owned by the debtors, Bruce and Elizabeth Marko, and Mr. Marko’s parents by joint tenancy.  At the petition date, the property was subject to a secured mortgage debt of approximately $1.4 million.

(posted 1 week 1 day ago)

There's drama to come as regulators finalize a proposal requiring banks to self-assess their track records on diversity.

(posted 1 week 1 day ago)

The bankrupt city of Detroit is in advanced talks with some bond insurers to strike a deal as early as Wednesday in efforts to build more momentum for its plan of reorganization, the Wall Street Journal reports.
American Airlines Group Inc. distributed the last big chunk of its payout to its bankrupt predecessor’s shareholders, delivering them a windfall that was even more enormous than previously expected, via WSJ.
James River Coal is considering selling its assets during its Chapter 11 restructuring. Read Daily Bankruptcy Review’s story here.
(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”) Bankruptcy Beat
(posted 1 week 1 day ago)