Friday, May 28, 2010

Kelly Gordon Rogers - Reverse leveraged buyout

Kelly Gordon Rogers


Reverse leveraged buyout - when a company that was a leveraged buyout restructures its (usually unmanageable) debt by issuing new equity (usually in exchange for some or all of the outstanding debt incurred during the original leveraged buyout). Kelly Gordon Rogers
Tort - An injury or wrong committed, with or without force, to the person or property of another, which gives rise to a claim for damages.
Common law - Law which derives its authority solely from usage and customs of immemorial antiquity or from the judgments and decrees of courts. also called "case law."
Executory contract - a contract in which some or all of the obligations of each party have not yet been completed. The debtor-in-possession (or trustee) is allowed to reject unilaterally certain executory contracts.
Kelly Gordon Rogers: Due process - Constitutional guarantee that an accused person receive a fair and impartial trial.

En banc "On the bench." All judges of a court sitting together to hear a case.
Courts of limited jurisdiction - Includes district, municipal and police courts.

Kelly Gordon Rogers



Exception - A formal objection of an action of the court, during the trial of a case, in refusing a request or overruling an objection; implying that the party excepting does not acquiesce in the decision of the court and will seek to obtain its reversal.
Settlement conference - A meeting between parties of a lawsuit, their counsel and a judge to attempt a resolution of the dispute without trial. Kelly Gordon Rogers
Civil law - All law that is not criminal law. Usually pertains to the settlement of disputes between individuals, organizations or groups and having to do with the establishment, recovery or redress of private and civil rights.
Kelly Gordon Rogers Injure - 1. Hurt or harm 2. Violate the legal rights of another person.


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Tuesday, May 25, 2010

Kelly Gordon Rogers Online Article - General jurisdiction

Kelly Gordon Rogers


Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Challenge for cause - A request by a party that the court excuse a specific juror on the basis that the juror is biased.
General jurisdiction - Refers to courts that have no limit on the types of criminal and civil cases they may hear. Superior courts are courts of general jurisdiction.
Administrative claim (or administrative expense claim) - debt incurred by the debtor, with court approval, after the bankruptcy filing including: necessary costs of preserving the estate, wages, salaries, court costs, lawyers' fees, accountants' fees, trustees' expenses, etc.
Kelly Gordon Rogers: First meeting of creditors (341 meeting) - a mandatory meeting between creditors and the debtor. It is usually held within a month of the filing of bankruptcy but often occurs later when the debtor has filed its schedules of financial information.
Statute of limitations - Law which specifies the time within which parties must take judicial action to enforce their rights.

Kelly Gordon Rogers



Automatic stay - the suspension of actions, such as debt collection or foreclosure, against the company in bankruptcy. This occurs automatically when a bankruptcy petition is filed. This action protects the debtor from creditors seeking to seize its assets. It protects some creditors in that it prevents one creditor from obtaining an excessive share of the assets of the bankrupt company to the exclusion of the other creditors.
Lay - non-professional; for example: a lawyer would call a non-lawyer a lay person and a doctor would call a non-doctor a lay person. Kelly Gordon Rogers
Lien - a charge upon a specific property designed to secure payment of a debt or performance of an obligation.
Kelly Gordon Rogers Assume - an agreement to continue performing duties under a contract or lease.


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Saturday, May 22, 2010

Kelly Gordon Rogers - Contempt of court

Kelly Gordon Rogers


Lay - non-professional; for example: a lawyer would call a non-lawyer a lay person and a doctor would call a non-doctor a lay person. Kelly Gordon Rogers
Claims - rights to repayment made by creditors against a debtor; they may be liquidated, unliquidated, fixed, contingent, matured, unmatured, secured, unsecured, subordinated, legal or equitable. (See priority of claims.)
Enjoin - To require a person to perform, or abstain or desist from some act.
Contempt of court - Any act that is meant to embarrass, hinder or obstruct a court in the administration of justice. Direct contempt is committed in the presence of the court; indirect contempt is when a lawful order is not carried out or refused.
Kelly Gordon Rogers: Preference - a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others. Preference payments can usually be recovered and returned to the debtor's estate.
Chapter 7 - liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. Individuals may file Chapter 7 also.

Kelly Gordon Rogers



Tax loss carry-forward - losses, for tax purposes, that can be carried forward and applied to reduce taxable income in future years. The Tax Reform Act of 1986 imposed stringent restrictions on the use of tax loss carry-forwards.
Bankruptcy estate - all legal or equitable interests of the debtor in property at the time of the bankruptcy filing. The estate includes all property in which the debtor has an interest, even if it is owned or held by another person. Kelly Gordon Rogers
Parties - Persons, corporations, or associations, who have commenced a law suit or who are defendants.
Kelly Gordon Rogers Discovery procedures - used to obtain disclosure of evidence before trial.


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Friday, May 21, 2010

Kelly Gordon Rogers Online Article about Business bankruptcy

Kelly Gordon Rogers


Distressed - used to describe securities, companies and related items in or near bankruptcy or insolvency. The term does not have a strict, technical or legal definition. For example, a distressed security might be a security where the issuer has defaulted or a security that is selling at a substantially discounted price where a default is expected in the future. Kelly Gordon Rogers
Chapter 9 - bankruptcies of municipalities; only a few of these are filed each year.
Judge pro tem - Temporary judge.
Period of exclusivity - (see exclusivity)
Kelly Gordon Rogers: Bankruptcy mill - a business not authorized to practice law that provides bankruptcy counseling and prepares bankruptcy petitions.
Offer -1. To make a proposal ; to present for acceptance or rejection.2.To attempt to have something admitted into evidence in a trial; to introduce evidence 3. An "offer" in contract law is a proposal to make a deal.It must be communicated successfully from the person making it to the person to whom it is made and it must be the person to whom it is made and it must be definite and reasonably certain in its terms.

Kelly Gordon Rogers



Business bankruptcy - a bankruptcy case in which the debtor is a business or an individual with business related debt. Data from the U.S. Administrative Office of the Courts subdivides bankruptcies into business and non-business.
Rule 2004 - (see Bankruptcy Rule 2004) Kelly Gordon Rogers
Parties - Persons, corporations, or associations, who have commenced a law suit or who are defendants.
Kelly Gordon Rogers Transcript - The official record or proceedings in a trial or hearing, which is kept by the clerk.


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Sunday, May 16, 2010

Kelly Gordon Rogers - Presiding judge

Kelly Gordon Rogers


Presiding judge - Chief or administrative judge of a court. Kelly Gordon Rogers
Opinion, per curiam - Phrase used to distinguish an opinion of the whole court from an opinion written by only one judge.
Deposition - Sworn testimony taken and recorded in an authorized place outside of the courtroom, according to the rules of the court.
Kelly Gordon Rogers: Bankruptcy Amendments of 1984 - a set of amendments to the Bankruptcy Reform Act of 1978. The Amendments contain a number of provisions including: limiting the jurisdiction of the bankruptcy court, limiting the right of companies to invalidate labor contracts while in bankruptcy and providing for the prevention of "substantial abuse."

Kelly Gordon Rogers



Stalking horse - this is the name given to the party submitting the first bid to purchase assets. The stalking horse bid can be used to solicit interest from other bidders and also acts as an indicator for what will be realized on the auction floor.
Liquidation - the dissolution of a company, or individual; usually operations cease and assets are sold by auction; Chapter 7 is usually employed for liquidations, businesses or individuals. Kelly Gordon Rogers
Court commissioner - A judicial officer at both trial and appellate court levels who performs many of the same duties as judges and justices.
Kelly Gordon Rogers Motion to lift automatic stay - a request by a creditor to allow the creditor to take an action against a debtor or the debtor’s property that would otherwise be prohibited by the automatic stay.


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Saturday, May 15, 2010

Kelly Gordon Rogers - Adversary system

Kelly Gordon Rogers


Adversary system - Basic U.S. trial system in which each of the opposing parties has opportunity to state his viewpoints before the court. Plaintiff argues for defendant's guilt (criminal) or liability (civil). Defense argues for defendant's innocence (criminal) or against liability civil) Kelly Gordon Rogers
Pleadings - Formal, written allegations by the parties of their respective claims.
Closing argument - The closing statement, by counsel, to the trier of facts after all parties have concluded their presentation of evidence.
Kelly Gordon Rogers: Liquidating reorganization - an informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales.

Kelly Gordon Rogers



Grand Jury - A body of persons sworn to inquire into crime and, if appropriate, bring accusations (indictments) against the suspected criminals.
Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Reversal - Setting aside, annulling, vacating or changing to the contrary the decision of a lower court or other body.
Kelly Gordon Rogers Voir dire - (pronounced "vwar-deer") - "To speak the truth." The process of preliminary examination of prospective jurors, by the court or attorneys, regarding their qualifications.


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Friday, May 14, 2010

Kelly Gordon Rogers - Petition preparer

Kelly Gordon Rogers


Petition preparer - a business not authorized to practice law that prepares bankruptcy petitions. Kelly Gordon Rogers
Caseload - The number of cases a judge handles in a specific time period.
Bankruptcy Code - the name given to the statutory body of bankruptcy laws after the Bankruptcy Reform Act of 1978.
Kelly Gordon Rogers: Guardian ad litem - A person appointed by a court to manage the interests of a minor or incompetent person whose property is involved in litigation.

Kelly Gordon Rogers



"Chapter 33" - an unofficial term describing a company that has filed for Chapter 11 three times.
Damages - Compensation recovered in the courts by a person who has suffered loss, detriment or injury to his/her person, property or rights, through the unlawful act or negligence of another. Kelly Gordon Rogers
Bankrupt - the entity that files a bankruptcy; the debtor; the insolvent entity. This is a non-technical term and is not used in the Bankruptcy Code.
Kelly Gordon Rogers Respondent - 1. Party against whom an appeal is brought in an appellate court. the prevailing party in the trial court case. 2. A juvenile offender.


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Thursday, May 13, 2010

Kelly Gordon Rogers Online Article

Kelly Gordon Rogers


Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Court - 1. Place where justice is administered. 2. Judge or judges sitting on the court administering justice.
Cause of action - A legal claim.
Limited jurisdiction - Refers to courts that are limited in the types of criminal and civil cases they may hear. District, municipal and police courts are courts of limited jurisdiction.
Kelly Gordon Rogers: Jury - Specific number of people (usually 6 or 12), selected as prescribed by law to render a decision (verdict) in a trial.
Juror - Member of a jury.

Kelly Gordon Rogers



Bankruptcy petition - the document filed with the court to initiate a bankruptcy proceeding.
Exclusivity (period of) - a debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans. Kelly Gordon Rogers
Bankruptcy Rule 2004 - a provision of the Bankruptcy Code that allows one party in a bankruptcy proceeding to compel discovery or other examination against another party.
Kelly Gordon Rogers Reasonable doubt - An accused person is entitled to acquittal if, in the minds of the jury, his guilt has not been proved beyond a "reasonable doubt". That state of mind of jurors in which they cannot say they feel an abiding conviction as to the truth of the charge.


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Kelly Gordon Rogers - Caption

Kelly Gordon Rogers


Evidence - Any form of proof legally presented at a trial through witnesses, records, documents, etc. Kelly Gordon Rogers
Appearance - 1. The formal proceeding by which a defendant submits to the jurisdiction of the court. 2. A written notification to the plaintiff by an attorney stating the he is representing the defendant.
Caption- The caption of a pleading, or other papers connected with a case in court, is the heading or introductory clause which shows the names of the parties, name of the court, number of the case, etc.
Kelly Gordon Rogers: Opinion, per curiam - Phrase used to distinguish an opinion of the whole court from an opinion written by only one judge.

Kelly Gordon Rogers



Malpractice. Professional misconduct or unreasonable lack of skill. A claim of malpractice must prove two things. One, you must prove that you could have won your case were it not for your lawyer's negligence. And, secondly, you must prove that your lawyer's actions were negligent.
Instruction - Direction given by a judge regarding the applicable law in a given case. Kelly Gordon Rogers
Personal bankruptcy - filed by an individual and also called a household bankruptcy, consumer bankruptcy or wage-earner bankruptcy. (see Chapter 13 and also Chapter 12).
Kelly Gordon Rogers Involuntary bankruptcy - a bankruptcy initiated by at least three creditors holding unsecured claims aggregating at least ,000 against the debtor. Data from the U.S. Administrative Office of the Courts subdivides bankruptcies into voluntary and involuntary.


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Wednesday, May 12, 2010

Kelly Gordon Rogers about Final determination

Kelly Gordon Rogers


Perjury - Making intentionally false statements under oath. Perjury is a criminal offense. Kelly Gordon Rogers
Business failure - (see failure)
Alleged - (allegation) Stated; recited; claimed; asserted; charged.
Secured debt - debt backed by a mortgage, pledge of collateral or other lien. It is debt for which the creditor has the right to pursue specific pledged property upon default.
Kelly Gordon Rogers: Record on appeal - The portion of the record of a court of limited jurisdiction necessary to allow a superior court to review the case.
Proceeding - Any hearing or court appearance related to the adjudication of a case.
Record - 1. To preserve in writing, print or by film, tape, etc. 2. History or a case. 3. The word-for-word (verbatim) written or tape recorded account of all proceedings of a trial.

Kelly Gordon Rogers



Judgment - Final determination by a court of the rights and claims of the parties in an action.
Costs - An allowance for expenses in prosecuting or defending a suit. Ordinarily does not include attorney's fees. Kelly Gordon Rogers
Court superior - State trial court of general jurisdiction.
Kelly Gordon Rogers Adversary proceeding - a lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court.


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Kelly Gordon Rogers Court supreme Article

Kelly Gordon Rogers


Court supreme - "Court of last resort." Highest court in the state and final appellate court. Kelly Gordon Rogers
Joint administration - the combining of two or more bankruptcy proceedings for administrative convenience. Frequently, the cases of affiliated entities are jointly administered. Joint administration does not necessarily result in substantive consolidation. (See substantive consolidation.)
Peremptory challenge - Procedure which parties in an action may use to reject prospective jurors without giving reason. Each side is allowed a limited number of such challenges.
Evidence - Any form of proof legally presented at a trial through witnesses, records, documents, etc.
Kelly Gordon Rogers: Law - The combination of those rules and principles of conduct promulgated by legislative authority, derived from court decisions and established by local custom.
Plaintiff - a person or business that files a formal complaint with the court.

Kelly Gordon Rogers



Perjury - Making intentionally false statements under oath. Perjury is a criminal offense.
Certificate under penalty of perjury - A written statement, certified by the maker as being under penalty of perjury. In many circumstances, it may be used in lieu of an affidavit. Kelly Gordon Rogers
Creditor - a person to whom or business to which the debtor owes money or that claims to be owed money by the debtor.
Kelly Gordon Rogers Adjudication - A judgment or decree


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Kelly Gordon Rogers Law Article

Kelly Gordon Rogers


Reverse leveraged buyout - when a company that was a leveraged buyout restructures its (usually unmanageable) debt by issuing new equity (usually in exchange for some or all of the outstanding debt incurred during the original leveraged buyout). Kelly Gordon Rogers
Tort - An injury or wrong committed, with or without force, to the person or property of another, which gives rise to a claim for damages.
Common law - Law which derives its authority solely from usage and customs of immemorial antiquity or from the judgments and decrees of courts. also called "case law."
Executory contract - a contract in which some or all of the obligations of each party have not yet been completed. The debtor-in-possession (or trustee) is allowed to reject unilaterally certain executory contracts.
Kelly Gordon Rogers: Due process - Constitutional guarantee that an accused person receive a fair and impartial trial.

En banc "On the bench." All judges of a court sitting together to hear a case.
Courts of limited jurisdiction - Includes district, municipal and police courts.

Kelly Gordon Rogers



Exception - A formal objection of an action of the court, during the trial of a case, in refusing a request or overruling an objection; implying that the party excepting does not acquiesce in the decision of the court and will seek to obtain its reversal.
Settlement conference - A meeting between parties of a lawsuit, their counsel and a judge to attempt a resolution of the dispute without trial. Kelly Gordon Rogers
Civil law - All law that is not criminal law. Usually pertains to the settlement of disputes between individuals, organizations or groups and having to do with the establishment, recovery or redress of private and civil rights.
Kelly Gordon Rogers Injure - 1. Hurt or harm 2. Violate the legal rights of another person.


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Kelly Gordon Rogers - Fact-findinq hearing

Kelly Gordon Rogers


Exchange offer - an offer by an issuer of debt securities to exchange new securities with less onerous provisions for currently outstanding securities. Companies often make exchange offers in an attempt to avoid bankruptcy. Kelly Gordon Rogers
Mitigating circumstances - Those which do not constitute a justification or excuse for an offense but which may be considered as reasons for reducing the degree of blame.
Bankruptcy Tax Act of 1980 - the Bankruptcy Reform Act of 1978 did not specify how certain tax matters concerning bankruptcies should be handled. The Bankruptcy Tax Act of 1980 was passed to specify the tax treatment of bankruptcy tax issues. It specifies the tax treatment of, among other things, tax loss carry-forwards and exchanges of equity for debt.
Kelly Gordon Rogers: Docket - the schedule on which the clerk of the court records all motions, pleadings, memoranda, orders and all other court filings.

Kelly Gordon Rogers



Bankruptcy petition - the document filed with the court to initiate a bankruptcy proceeding.
Straight bankruptcy - an informal term for a Chapter 7 bankruptcy or liquidation; used more commonly to describe liquidation before the Bankruptcy Reform Act of 1978. Kelly Gordon Rogers
Preponderance of evidence - The general standard of proof in civil cases. The weight of evidence presented by one side is more convincing to the trier of facts than the evidence presented by the opposing side.
Kelly Gordon Rogers Fact-findinq hearing - A proceeding where facts relevant to deciding a controversy are determined.


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Tuesday, May 11, 2010

Legal Definitions and Terms by Kelly Gordon Rogers

Kelly Gordon Rogers


Court supreme - "Court of last resort." Highest court in the state and final appellate court. Kelly Gordon Rogers
Joint administration - the combining of two or more bankruptcy proceedings for administrative convenience. Frequently, the cases of affiliated entities are jointly administered. Joint administration does not necessarily result in substantive consolidation. (See substantive consolidation.)
Peremptory challenge - Procedure which parties in an action may use to reject prospective jurors without giving reason. Each side is allowed a limited number of such challenges.
Kelly Gordon Rogers: Evidence - Any form of proof legally presented at a trial through witnesses, records, documents, etc.

Kelly Gordon Rogers



Law - The combination of those rules and principles of conduct promulgated by legislative authority, derived from court decisions and established by local custom.
Plaintiff - a person or business that files a formal complaint with the court. Kelly Gordon Rogers
Perjury - Making intentionally false statements under oath. Perjury is a criminal offense.
Kelly Gordon Rogers Certificate under penalty of perjury - A written statement, certified by the maker as being under penalty of perjury. In many circumstances, it may be used in lieu of an affidavit.


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Saturday, May 1, 2010

Kelly Gordon Rogers - Opinion, per curiam

Kelly Gordon Rogers


Trial - The presentation of evidence in court to a trier of facts who applies the applicable law to those facts and then decides the case Kelly Gordon Rogers
Judge pro tem - Temporary judge.
Default - A failure of a party to respond in a timely manner to a pleading; a failure to appear for trial.
Kelly Gordon Rogers: Chapter 11 - reorganization proceedings, generally for business entities. The debtor maintains control of the business in Chapter 11, unless the Court appoints a trustee.

Kelly Gordon Rogers



Ï»¿Action - Proceeding taken in a court of law. Synonymous with case, suit lawsuit.
Interests - the equity interests of stockholders are often referred to in bankruptcy documents merely as "interests." Kelly Gordon Rogers
Opinion, per curiam - Phrase used to distinguish an opinion of the whole court from an opinion written by only one judge.
Kelly Gordon Rogers Prepackaged bankruptcy - a situation where a company and its creditors agree to a plan of reorganization before the company files a bankruptcy petition. In a true prepackaged bankruptcy, a plan of reorganization is circulated and approved by creditors before the petition is filed. The court then confirms the plan and the company emerges from bankruptcy quickly.


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