Latest Articles

90 Second Lesson: Why Would a Debtor Choose to Liquidate Under Chapter 11?
Question: A reader asks, “I read about a company that filed for chapter 11 recently with a plan to sell[...]
How to Save Your Business from Financial Distress: The Potency of Subchapter V of Chapter 11
[Editors' Note: If you’re looking for ways to address your company’s financial distress, you have probably already come across many[...]
Determining Whether or Not to Seek Court Approval of a Sale in a Delaware Assignment for the Benefit of Creditors Case
Is Court Approval Necessary for a Sale in a Delaware ABC Case? For many small insolvent companies, an assignment for[...]
How Far Can the Trustee Reach?
How Far Can the Trustee Reach to Clawback Fraudulent Transfers? Bernard Madoff’s infamous Ponzi scheme left victims in its wake[...]
How To Become a Really Bad Bankruptcy Client And Maybe Even Get Prosecuted
Follow the Rules or You Might Become a Bad Bankruptcy Client What makes a bad bankruptcy client? Failure to follow[...]
90 Second Lesson: What is a state law receivership?
State Law Receiverships: An Overview A receiver is a non-party neutral person or entity that is appointed and empowered by[...]
Steps a Supplier Can Take in the Face of a Potentially Bankrupt Retailer
Adequate Assurance, Suspended Delivery, and Other Rights and Remedies of a Supplier to a Bankrupt Retailer The impending bankruptcy of[...]
Chapter 15 Bankruptcy: A Concise Overview
What Is the Purpose of Chapter 15 Bankruptcy? Bankruptcies are global fixtures, ones not necessarily restricted by borders. A company[...]
Dealing with Corporate Distress 18: Buying & Selling Distressed Businesses
The ABCs of ABCs, Business Bankruptcy, & Corporate Restructuring/Insolvency Those unfamiliar with the world of business distress may not realize[...]
90 Second Lesson: What is a “Professional Fee Carve-Out” in Chapter 11?
QUESTION: A commercial banker emailed saying, “We’ve recently had a large asset-based loan default, and the company filed for chapter[...]
Crypto in Celsius “Earn” Accounts Are Property of Bankruptcy Estate, Not Customer Assets
Editors’ Note: DailyDAC makes occasional exceptions to its general policy of publishing only original content when its editors determine an[...]
90-Second Lesson: Can a Borrower File for Bankruptcy to Stop Foreclosure?
QUESTION: An exasperated loan officer emailed us asking whether a borrower, in this case, a commercial real estate lessor, could[...]
Application for Receivership
Understanding the Basics of Receiverships Receivership is foreign to most of the general public, and many attorneys and other professionals[...]
90-Second Lesson: Personal Chapter 7 Bankruptcy Petition, Are Single-Member LLC Assets Safe from the Trustee?
QUESTION: Bob Business Owner wants to know: if he files Chapter 7, can the Chapter 7 bankruptcy trustee reach the[...]
Showdown in Spokane: The Spokane Country Club Bankruptcy Case
The Spokane Country Club bankruptcy case (SCC, the club, or the debtor) is an interesting study. The bankruptcy process was[...]
90-Second Lesson: You Default on a Commercial Loan, What Happens Next?
QUESTION: Scott T,  emailed, asking, “I have a client who owns a few income-producing properties, and she thinks she may[...]
Dealing with Corporate Distress 17: Focus on Assuming & Rejecting Executory Contracts & Unexpired Leases in Bankruptcy
The ABCs of ABCs, Business Bankruptcy, & Corporate Restructuring/Insolvency In Installment 16, we discuss how Bankruptcy Code § 365 permits a[...]
When a Seller of Real Property Files for Bankruptcy Before Closing
Purchaser’s Rights Under an Executory Contract Sven, of St. Paul related this sad but musical tale to us, which pertains[...]
Strategic Filing: Chapter 11 Bankruptcy for Litigation Advantage?
It Depends on the Facts Debtors often use Chapter 11 bankruptcy for litigation advantages. Whether or not they succeed depends[...]