It’s That Time of Year Again. Businesses and individuals are gathering the information needed to complete tax returns and accountants are preparing for yet another “tax season.” You know the drill. This year we want to urge…
Creditors Risk Equitable Adjustment of Claims if Overly Involved in Debtor’s Business Affairs
The court in In re Aida’s Paradise, LLC, 485 B.R. 806 (2013) has warned lenders not to become overly involved in a debtor’s business affairs, even if all of its actions are legally permissible. The court cited the Eastern District…
Yes, Yes, Thank You – But No.
Recently I met with a business owner who wanted to use Chapter 11 to solve his business problems. He explained that his company was having severe cash-flow problems, that a friend had told him that Chapter 11 had saved…