Q&A with Jason Mizzell, associate Why did you become an attorney? Who or what inspired you? I have always been a student of history. And often – for better or for worse – lawyers are at the center of some of the most important events in history. No single historical judge or lawyer inspired me to …
When Business is Bad, Who do you Pay?
This doesn’t seem like a tough question to most folks. You’ll pay the creditors to keep your doors open and delay paying the ones who may let you slide past due. Well, an important analysis will likely lead to other priorities. Consider first to whom you may be personally liable if the doors close… Taxing …
Small Business Reorganization Act (SBRA) of 2019 updates to Chapter 11
The Small Business Reorganization Act (SBRA) of 2019 added a new subchapter V to Chapter 11 of the Bankruptcy Code (11 U.S.C. §§ 1181-1195). It is applicable solely to “Small Business Debtors” who file a bankruptcy petition on or after February 19, 2020. For debtors who qualify, filing under the new subchapter is likely to …
Small Business Reorganization Act (SBRA) of 2019 updates to Chapter 11Read More
Indiana’s Dislike of Cognovit Notes
Indiana doesn’t look kindly upon cognovit notes, even though its neighbor, Ohio, routinely uses them. In fact, Indiana’s dislike of cognovit notes is demonstrated by the existence of an Indiana statute providing it’s a Class B misdemeanor to procure, retain possession of, or attempt to recover upon a promissory note with a cognovit provision in …
Coulda, Shoulda, Woulda: Delay in Accelerating Note After Default Fatal
A lender that waited 16 years after default before invoking an optional acceleration clause in a promissory note was prohibited from collecting the unpaid balance and from foreclosing on the mortgage that secured the note. Borrowers Dean and Paula Blair borrowed $110,300 in 1992 from United Companies Lending Corporation (“UCLC”), and granted a mortgage to …
Coulda, Shoulda, Woulda: Delay in Accelerating Note After Default FatalRead More
Business and Commercial Cases of Interest to Professionals
Client Alert: U.S. Supreme Court Issues Opinion on Bankruptcy Jurisdictional Issue
The United States Supreme Court issued its opinion yesterday on whether certain types of cases may be heard in bankruptcy courts. The Court had previously ruled that bankruptcy courts lacked “constitutional authority” to hear certain types of “core” proceedings involving disputes between a debtor and third parties (so called “Stern” cases named after the case of …
Client Alert: U.S. Supreme Court Issues Opinion on Bankruptcy Jurisdictional IssueRead More
Should our business file chapter 11?
Over the years I have been asked that question many times. Some business folks just think when your business is deep in debt, that a bankruptcy, particularly Chapter 11, is the only way out. That’s just not always true by any stretch. A Primer on Chapter 11 The Good, the Bad and the Maybe On …