Client Resources

Three Common Misconceptions
Chapter 11 - Three Common Misconceptions by Dan Demers, MBA and Sidney J. Diamond, JD © 2003

Three common misconceptions regarding Chapter 11's are: (1) the perceived ethical restrictions on accounting professionals; (2) the role of the board of directors of a corporation which has filed for relief; and; (3) reporting a Chapter 11 filing to the Securities and Exchange Commission.

Audits Under Chapter 11

Frequently when a...

Capitalizing on Security Exemptions
CAPITALIZING ON SECURITY EXEMPTIONS IN CHAPTER 11 REORGANIZATIONS by Daniel J. Demers, M.B.A."' and L. Paul Hudgins, J.D. ** In collaboration with Sidney J. Diamond, J.D., John D. Shirley, C.P.A., and Blake Wilson © Demers & Hudgins 1998 The Bankruptcy Code (hereinafter the "Code") contains a number of security exemptions enunciated by Congress in 1978. In granting extraordinary authority to the bankruptcy courts Congress stated, [t]hese provisions are necessary because...
Adequate Protection, The Undersecured Creditor
ADEQUATE PROTECTION, THE UNDERSECURED CREDITOR AND DEPRECIATING PROPERTY Sid Diamond, Esq. El Paso, TX

This article is a primer on adequate protection of an undersecured creditor, whose claim is secured by depreciating property, from the beginning of a reor­ganization through confirmation. Assume there are no cash collateral or financing issues. The goal of adequate protection in this context is an allowed se­cured claim equal to the value...

Cramdown by the Non-Public Debtor
CRAMDOWN BY THE NON-PUBLIC CORPORATE DEBTOR, NEW VALUE AND THE SECURITIES LAWS By Sidney J. Diamond, Esq. El Paso, Texas Participation by creditors in purchasing common stock, or other securities, pursuant to a plan of reor­ganization presents a new area of law for bankruptcy practitioners. A non-public corporate debtor does not have securities traded on either an exchange, or on the over-the-counter market. Its securities are usu­ally owned...
Proposed SEC Rule Change
PROPOSED SEC RULE CHANGE TO HAVE BENEFICIAL EFFECT ON CHAPTER 11's By Daniel J. Demers. MBA, L. Paul Hudgins, JD Sidney J. Diamond, JD El Paso, Texas Twenty years after the enactment of the Bankruptcy Code, the Securities & Exchange Commission has agreed to modify Rule 1 5c2-11 by dispensing with prior financial accounting requirements to bring the Rule into compliance with the Code. The problem was first identified by...
Laws Govern Creditors
Laws were created in the U.S. Bankruptcy Code specifically setting boundaries for Creditors to follow. You no longer need to feel that you deserve creditor abuse and harassment because you have fallen short of paying your debts. It is not OK to be called before 8am, it is not OK to be called after 9pm or to be embarrassed at work. Check out the following sections...

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