Kentuckians who struggle with debt, whether from overuse of credit cards or medical bills or other unexpected financial catastrophe, often view bankruptcy as a means of relief. However, personal bankruptcy comes in two different flavors known by their location in the...
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Month: May 2017
E. coli outbreak leads to bankruptcy of soy butter manufacturer
Many factors can force a person or business into bankruptcy. A recent Chapter 7 filing involving a Kentucky-based food manufacturer highlights this fact and provides a devastating irony: the seller of a peanut-free peanut butter called "I. M. Healthy" has been forced...
Understanding executory contracts in bankruptcy
Many Kentucky businesses that file a petition for bankruptcy are often party to one or more contracts under which the parties have not fulfilled all of their obligations. A common example is a commercial lease whose term has not expired. In such a situation, the...
Two Louisville restaurants may be closed by bankruptcy
Two popular Louisville area restaurants may be forced to close their doors if, as has been whispered, their parent corporation decides to declare bankruptcy. The irony of the situation is the fact that both local restaurants appear to be doing well financially. Joe's...
What is a pre-petition waiver and how does it work?
Bankruptcy can become a significant stigma for small businesses in Kentucky and their owners. Bankruptcy is often viewed as the "nuclear option" to be used only after other attempts at keeping a business solvent have failed. However, even businesses that are deeply in...
GM bankruptcy does not bar claims based on defective ignitions
Most Kentucky business that are contemplating bankruptcy assume that filing the petition will invoke an automatic stay and protect them from pending lawsuits. In a case that may have implications for business bankruptcies in Kentucky and across the country, the United...
Financing the purchase of a car after bankruptcy
Kentuckians who are contemplating filing a petition in bankruptcy have many questions about life after bankruptcy. One of the most pressing issues is the purchase of an automobile on credit. Contrary to the expectations of many people, a personal bankruptcy does not...
Do you need an attorney to help you file for bankruptcy?
You may have run into a situation that has left you with a mountain of debt, and you have decided that filing for bankruptcy is the only way to get your life back. It is possible for you to file personal bankruptcy and become a pro se litigant. If you...
Kentucky music festival completes bankruptcy process
Bankruptcy can strike any kind of business operation. While most people think of bankruptcy as a remedy for failed manufacturers or sellers of manufactured goods, the recent business bankruptcy of a Kentucky music festival that never opened its doors illustrates how...
Stopping wage garnishments in Chapter 13 bankruptcy
One of the most potent debt collection tools available to creditors in Kentucky and other states is a wage garnishment. A properly executed garnishment allows a creditor to collect a portion of the debtor's wages directly from the debtor's employer. The provisions of...
