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The Breathing Spell

For the beleaguered company struggling for a profit and fighting valiantly through costs, claims, and creditors to keep the ship afloat, a “breathing spell” can be very attractive. 

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07-01-2012 | By Jerome S. Cohen.

Cash Collateral

When a lender has a claim against a bankruptcy debtor, and the claim is secured by a lien on property of the debtor, the Bankruptcy Court balances the interests of the lender and the borrower—debtor in the property. 

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07-01-2012 | By Jerome S. Cohen.

In 2011, the reasons for filing bankruptcy have been the same and different.

Many 2011 business filings conform to historical trends.  For these, the reasons are the same as always:  a decline in revenue because of one or more of an infinite variety of factors, like the weather, prevailing economic conditions, competition, supply difficulties, premises difficulties, equipment difficulties, personnel difficulties, or governmental challenges in the form of taxes or regulation.  Reduced income makes it impossible to meet expenses and debt service. 
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07-01-2012 | By Jerome S. Cohen.

Sometimes, Health Insurance Is Not Enough

We can debate whether or not the 62.1 percent figure is too high, but even critics won't deny that whatever the true figure, it is significant. For some, bankruptcy may be the only answer, and they are advised to obtain the best legal help available. One highly regarded law practice that operates in this space, and provided some background for this article, is the Jerome S. Cohen firm of Los Angeles.

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01-09-2012 | By Michael D. Shaw

Real Estate Investors: Understanding Your Options

For real estate investors, Chapter 11 can be a lifesaver - a proverbial "fresh start" from an otherwise seemingly impossible situation - which gives the debtor a respite from creditors. And, given the nature of the current economy and the challenges that confront major companies and individuals in the real estate industry, federal bankruptcy law is possibly a creative solution that can benefit real estate professionals, including: lenders, borrowers, developers, brokers, appraisers, accountants and other advisers. This point - that filing for bankruptcy is a beginning, not an end - bears repeating, because real estate investors deserve the right to work with experienced attorneys who understand this intricate area of law, a discipline that allows companies to often reemerge towards success.

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12-16-2011 | By Jerome S. Cohen

Creditors Freeze of Bankruptcy Debtor's Cash

This dilemma has just been resolved in the banker's favor by the Supreme Court. The dilemma was whether to violate the automatic stay in bankruptcy or allow Debtor to empty the bank account. The dilemma was shared by other creditors with offsetting debts to bankruptcy Debtor. In counseling creditors and debtors about Chapter 11 reorganization, our office often observes that early action is useful, and this case shows why. Read More

10-18-2010 | By Jerome S Cohen

Mechanics Lien Claim in Bankruptcy

To a lawyer not practicing steadily in the construction area, the mechanics lien law presents pitfalls. Add the complexities of the Bankruptcy Code, and counsel can use guidance. The present article covers one point only: perfection of the mechanics lien in accordance with state law remains necessary and is permissible after owner files bankruptcy. This point is critical. Much is simplified if this point is understood. Read More

03-01-1994 | By Jerome S. Cohen

 
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