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Bankruptcy,
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Image by Lisa Redfern from Pixabay When a business’s prospects take a turn for the worse, its bankruptcy may be in the offing. But the road to bankruptcy can be a lengthy journey. Even when a restructuring proceeding is necessary, Chapter 11 debtors and sophisticated parties in interest may have...
by Stites & Harbison, PLLC
The law governing the repossession of collateral is similar to Kenny Rogers’ advice in his classic, “The Gambler.” Like the old-time card players in Rogers’ ballad, secured parties who utilize self-help to repossess collateral must know when to walk away . . . and when to run. Indiana, like most...
by Stites & Harbison, PLLC
While a colleague has likened Kentucky’s guaranty statute to Lewis G. Carroll’s Jabberwocky, the statute that frightens us more is Kentucky’s failure to release statute. It is a statute that comes with draconian penalties ($500/day plus attorney’s fees) and a lack of judicial interpretation. Even with the recent opinion, Capital...
Due to foreclosure and eviction moratoriums, voluntary forbearances, or the influx of government stimulus, the anticipated wave of creditor actions as a result of the pandemic have been held at bay. This slowdown has provided an opportunity to sharpen our skills. I was recently listening to a discussion of the...
The Supreme Court has ruled unanimously that the “mere retention of property does not violate § 362(a)(3)” of the automatic stay. The decision in City of Chicago, Illinois v. Fulton resolved a circuit split as to whether creditors have an affirmative duty to turn over repossessed property upon a bankruptcy...
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