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December 2014 News

On December 18, 2014 Partner Charles M. Ivey, III and Associate Justin Kay were successful in getting a Plan of Reorganization confirmed in an individual Chapter 11 case. The individual held an ownership interest in assets worth $44,600,000 as of the filing of the bankruptcy case, as listed on the petition. Due to a few failed ventures, in addition to some mounting tax debts, the individual filed for relief under Chapter 11 of the Bankruptcy Code. Almost two years later, and after filing a total of six separate Plans of Reorganization, the firm of Ivey, McClellan, Gatton & Talcott, LLP were successful in getting every creditor of the Debtor to agree to the Plan treatment as proposed. To paraphrase from a comment of another individual within the Bankruptcy bar, the work on this case was of such superior quality that it compares favorably with any successful Chapter 11 in this district in the last five years. Congratulations for all the hard work performed on this case, and the successful result obtained.

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November 2014 News

On November 7 & 8, 2014 Charles M. Ivey, III joined Pamela P. Keenan of Kirschbaum Nanney Keenan & Griffin, P.A. in presenting at the 37th Annual Bankruptcy Institute, located at the Omni Grove Park Inn in Asheville, NC. The seminar was hosted by the North Carolina Bar Association, and Charles’ presentation was entitled “Lenders Beware: You Just Think Your Debtors Owe You Money.” The presentation focused on portions of the Fair Debt Collections Practices Act (FDCPA), the Equal Opportunity Credit Act (ECOA), and case law interpreting some of these statutes and how lender mistakes may create liability for creditors. The firm’s partners Dirk W SiegmundSamantha K Brumbaugh, and Darren McDonough, along with Associates Charles (Chuck) M Ivey IV and Justin Kay were in attendance along with the greatest bankruptcy practitioners in the state to discuss some of the big issues plaguing the Bankruptcy Bar of North Carolina.

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October 2014 News

On October 23 & 24, 2014 the firm headed down to North Myrtle Beach, South Carolina for it’s yearly firm retreat. The yearly firm retreat has become an IMGT tradition, and is a good reminder to everyone that no matter how hard you work occasionally you need to set that work aside, kick your feet up, and drink a nice cold beer. But, with the retreat over, it’s time for us to dig back into work until next year’s retreat.

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September 2014 News

On September 23, 2014 the United States Bankruptcy Court for the Middle District of North Carolina, Greensboro Division confirmed the Chapter 11 Plan of Reorganization for a small company that operates a lawn care and snow removal business in Stoneville, NC. Getting the Chapter 11 Plan of Reorganization Confirmed is the goal of every company or individual in Chapter 11 Reorganization. The Plan sets forth how creditors will be repaid, at what times, and in what amounts. Congratulations to Partner Samantha K. Brumbaugh, the primary attorney that worked on the case at IMGT, for her work in representing the best interests of the client, and seeing this case through confirmation.

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