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90 Second Lessons

90 Second Lesson: When To Request Relief From the Automatic Stay

QUESTION: How do I know if I should request relief from a debtor’s automatic stay? Learn the answer in 90 seconds or less.


90 Second Lesson: First Step When Purchasing a Distressed Business

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: What is the first integral decision a potential purchaser of a distressed business must make? ANSWER: Assuming that the seller has not already […]


90 Second Lesson: Personal Liability for Unpaid Taxes in Insolvency Cases

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: Who can be liable for a chapter 11 debtor’s unpaid taxes? ANSWER: One or more persons, including a fiduciary, may be subject to […]


90 Second Lesson: How is a General Carve-Out Different than a Professional Fee Carve-Out?

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it.


90 Second Lesson: What is the Difference Between Recharacterization and Equitable Subordination?

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: Jeff P. from Los Angeles emailed asking us to explain the interplay between recharacterization and equitable subordination? ANSWER: While recharacterization and equitable subordination […]


90 Second Lesson: California Receiverships

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: Jeffrey B. asks:  where is a good starting place to understand California receiverships? ANSWER: The California receivership statutory scheme, encompassed in California Code […]


90 Second Lesson: Credit Bidding in Plan Sales

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: A private equity investor wrote in recently asking us to address credit bidding in the aftermath of Radlax. ANSWER: Thanks to the 2012 […]


90 Second Lesson: What is a “Professional Fee Carve-Out” in a Chapter 11 case?

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: A commercial banker emailed saying, “We’ve recently had a large asset-based loan default and the company filed Chapter 11.  Our attorney has advised […]


90 Second Lesson: What is a Chapter 15 Proceeding of the Bankruptcy Code?

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it. QUESTION: Harry A asks, what is a Chapter 15 Proceeding? ANSWER: Chapter 15 of the Bankruptcy Code was enacted as part of the Bankruptcy […]


90 Second Lesson: Is Bankruptcy Needed if Creditors Will Just Agree to Take Less?

Editors’ Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to info@dailydac.com and we will try to answer it.


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