Creditors' Rights & Bankruptcy :: In the News
Coming to Collect
Smart Business, June 2011, Dan Bennett, interviewee
There is not one single credit policy that will be perfect for each and every company. But, a well thought-out credit policy can help weigh the risks of a customer defaulting and determine whether their business is a risk worth taking.
Arrearage Cure Amount in Chapter 13 Includes Legal Fees Even if Claim Is Undersecured
American Bar Association, February 16, 2011, Christy Prince, author
The Sixth Circuit Court of Appeals has ruled that chapter 13 debtors are required to pay all fees required by the underlying loan documents in order to cure a default even if the total debt exceeds the value of the collateral.
Smart Business, June 2010, Larry J. McClatchey, interviewee
When one of your customers files for Chapter 7 bankruptcy, you’re not only losing a customer, but, in many cases, you’re losing whatever assets they might owe you and even what they’ve most recently paid you for products or services.
The Commercial Court - A Year in Review
- The Daily Reporter, Winter 2010, John Brody & Rebecca Price, authors
- The Ohio Supreme Court implemented commercial dockets in four common pleas courts in Ohio. As of late 2009, the commercial docket had 160 pending cases.
Foreclosures continue climb in ’09 to close out a forgettable decade
Columbus Business First, January 22, 2012, Larry McClatchey, contributor
“Initially, the (foreclosure) cases we saw were involving debtors that invested in real estate as a business,” McClatchey said. “They bought six, eight or 10 properties and got in over their head.”
What you need to know about the Red Flags Rule
- Columbus Metropolitan Bar Journal, November 2009, Kenneth R. Cookson, co-author
- In response to this growing [identity theft] "epidemic," the U.S. government has pushed to make combating identity theft a higher priority. This article focuses on the Red Flags Rule.
- Franchise owners take on 'Erma's'
- Columbus Dispatch, October 31, 2009, Larry J. McClatchey, contributor
- A rebellion of sorts is under way among Max & Erma's franchise owners upset with the new owner who, after 16 months at the restaurant chain's helm, has filed to reorganize it in bankruptcy.
- Adversary Proceeding Stays In Nicole Energy Ch. 11
- Law360, May 2009, Larry J. McClatchey, contributor
- A district court judge has again declined to withdraw the reference of an adversary proceeding in the Chapter 11 bankruptcy proceedings of Nicole Energy Services Inc.
- Nicole Energy affiliates put into bankruptcy court
- Columbus Business First, April 3, 2009, Larry J. McClatchey, contributor
- Three affiliates of a natural gas wholesaler that hasn't operated for years are being forced into bankruptcy.
- New business-specific court expected to fast track commercial cases
- Business First, January 30, 2009, John Brody
- At the turn of the year, two judges for the Franklin County Common Pleas Court began specializing in commercial or business cases, called a "commercial docket."
- What Creditors Should Do If a Debtor Declares Bankruptcy During the Pendency of a Lawsuit Against the Debtor
- The Advocate, January 2009, Stephanie P. Union and Christy A. Prince
- Bankruptcy brings its own unique set of rules that impact those who do business with the "debtor," or party filing for bankruptcy. This is an overview to show creditors how to avoid missteps in the bankruptcy process.
- Bankruptcy filings up 28.9%
- Columbus Dispatch, August 28, 2008, Larry J. McClatchey, contributor
- The effects of a struggling economy and a decline in the housing market have shown up in another barometer of economic health: bankruptcy filings. Nationwide, there were 967,831 bankruptcy cases filed in the 12 months ending June 30, 2008.
- Planning for Disaster
- Columbus CEO, June 2008, Larry J. McClatchey, contributor
- Bankruptcy is something no business owner wants to think about, much less plan for. But with the economy in recession, lenders increasingly tightfisted and consumers cutting back spending, some businesses inevitably will find themselves in dire financial straits.
- Are You a Debt Collector Under the Fair Debt Collection Practices Act?
- November 2006, Stephanie P. Union
- Determining whether the nature of your business makes you a debt collector is important. If you fall within the definition, you can be subject to severe restrictions on collection activities under the FDCPA.