Joe Coleman, a founding director of the Firm, chairs the Insolvency, Bankruptcy & Creditor Rights Section, which focuses on corporate and business reorganization and debt restructuring work throughout the nation. He has substantial experience representing unsecured creditors’ committees, lenders, debtors, equity holders, suppliers, trade associations, financial institutions, real estate companies, trustees and examiners in a wide array of pre-bankruptcy workouts and restructurings, reorganization proceedings, assignments for the benefit of creditors, adversary proceedings, foreclosures and virtually all aspects of bankruptcy and insolvency issues and related litigation. Joe has represented 40 Creditor Committees in 17 states, confirmed in excess of 12 plans of reorganization representing both private and public debtors, and served as counsel for many lenders and other secured creditors in Chapter 11 and other insolvency-related matters. His work has earned him numerous accolades over the years. Recently, he was awarded the Turnaround Award (Chapter 11 Reorganization of the Year, $25MM to 100MM) by The M&A Advisor for the 2017 Reorganization of Valuepart, Inc., an international distributor of aftermarket parts for off-highway earthmoving tractors and equipment.
Mr. Coleman has represented 40 Creditor Committees in 17 states, confirmed in excess of 12 plans of reorganization representing both private and public debtors, and served as counsel for many lenders and other secured creditors in Chapter 11 and other insolvency-related matters.
- Over the proceeding year, represented claims in numerous avoidance actions in five states seeking a total of over $30 million in damages.
- Represent Creditor’s Committee in Atlanta bankruptcy case involving 4 levels of secured debt, several §363 sales of multi-state companies and significant avoidance actions.
- Equity owner of oil and gas services companies involving 7 bankruptcy cases, 3 state court receiverships and significant related litigation.
- Successful out of Court workout of contractor business with operations in multiple states, including debt restructuring, dispute resolution, with quasi-governmental agencies, bond company negotiations and related actions to prevent bankruptcy.
- Committee in Delaware bankruptcy case concerning U.S. operations of a Japanese company, confirmed committee-directed plan.
- Four and one-half day successful trial in the Texas Rangers bankruptcy case.
- Committee in Connecticut retail bankruptcy case resulting in committee-proposed plan and reduction of over 40 percent of claims through the committee’s recharacterization of debt as equity actions against insiders.
- Highest bidder and purchaser of approximately 100 oil and gas leases and related properties out of bankruptcy.
- Committee in biofuel bankruptcy case, including litigation against a 20-member lender group that resulted in settlement with significantly under-secured lenders paying unsecured creditors 15 percent of their claims.
- Successfully defended officers and directors in oil and gas bankruptcy case resulting in court-approved settlement for an amount less than projected legal fees.
- Proposed and confirmed competing plan of reorganization as a means to stop the consummation of a Section 363 sale process and enable the acquisition of a natural gas pipeline transmission company out of bankruptcy.
- Post-Confirmation Trustees in the oil and gas, mortgage, retail and distribution industries.
- Equity holders of a holding company in a Nashville, Tennessee bankruptcy involving restaurants in five east coast states; confirmed plan resulted in equity holders retaining ownership of restaurants, with a vastly improved balance sheet.
- Equity owners of oil and gas service companies involving 7 bankruptcy cases, 2 state court receiverships and significant related litigation.
- Successful out of court workout representing contractor in negotiations with bonding company, governmental agencies, lender, vendors and related parties.
- Group of seven golf equipment manufacturers in an out of court workout with a national retail chain resulting in equity funding, significant payment and security interests from formerly insolvent company.
- Represented a publicly traded equity fund in bankruptcy litigation involving intellectual property and attempted recharacterization of debt as equity
- Represented public sports product company in out-of-court acquisition of insolvent licensee to preserve national line of products sold in all 50 states.
- Represented a Fortune 500 company in the acquisition of an international service firm in bankruptcy.
- Official Unsecured Creditors’ Committee in a transportation industry bankruptcy comprised of 28 affiliated, publicly traded debtors, over $75,000,000 in debt represented, pending in the Southern District of Texas.
- Debtor, a publicly traded roll-up of thirteen entities, resulting in the sale of thirteen separate companies in a 120-day period; Dallas, Texas.
- Official Unsecured Creditors’ Committee for a national mortgage lender, reported as one of the ten largest bankruptcies in that year. Committee members included Fox Sports, CBS Sports, TNT and Dan Marino; Northern District of Texas.
- Served as counsel for defendants in a $15,000,000 preferential transfer and anti-trust lawsuit in Delaware, resulting in a settlement of less than 5% of amounts sought by plaintiff.
- Official Unsecured Creditors’ Committee, owed an aggregate of over $75,000,000 in 200+ store retail bankruptcy; Central District of California.
- Successfully represented a leading national golf products manufacturer in injunction proceedings in bankruptcy court in Augusta, Georgia.
- Official Unsecured Creditors’ Committee and related officer and director litigation in the bankruptcy of a publicly traded distribution company located in Santa Barbara, California.
- Litigation arising from warehouse distributor’s bankruptcy, including LBO/Fraudulent conveyance litigation against lender and breach of fiduciary duty causes of action against former owners, Northern District of Illinois.
“I had a great experience with Joe Coleman. He is extremely ethical and he was a dedicated advocate for me throughout the case. He went beyond just doing his job – he was all in, committed to my cause, and available to me anytime day or night. We knew Joe would stand up for us and swing hard. We needed an attorney totally dedicated and committed to us and Joe was that guy. He built a real rapport with opposing counsel, treated them with respect and gained a lot of ground with them. Joe exudes integrity and is so deeply committed to doing things the right way, his influence helped bring the other side around within a few months. We have worked with other attorneys in the past, but Joe Coleman and the team at KRCL have impressed us so much with their dedication and commitment, we would not hesitate to turn to them with any of our legal needs and refer others to them.”
Andy Elms, Vice President
APOLLO Environmental Strategies, Inc.
“The first time MFSG worked with Joe Coleman was on a very complex bankruptcy case many years ago. We were not expecting to recover anything but Joe’s relentless pursuit in that case helped us get a surprisingly good recovery. Joe has been our go-to bankruptcy attorney and corporate counsel ever since. Joe gets good results because he’s so driven and passionate about what he does. His integrity is unmatched – I always know he’s being completely honest with me about a case and what we can expect. I trust what he says because I know he has our best interests at heart. I really appreciate the time Joe takes to explain things – he has a great style of communication that really helps us understand what’s happening so we feel comfortable making decisions about a case. We have been through some tough situations together and he has become both a mentor and friend over the years. Joe is one of the most grounded and level-headed people I know. I don’t think you could find a better attorney than Joe Coleman.”
MEMA Financial Services Group, Inc.
Research Triangle Park, North Carolina
“I first met Joe Coleman nearly twenty years ago when he was representing a supplier group in a bankruptcy case as counsel to the unsecured creditors. My company was one of the claimants and I was tremendously impressed watching Joe in action throughout the case. He is very forthright, getting straight to the point when dealing with his clients and with opposing counsel. Most importantly, Joe’s integrity is evident in every interaction and I have the utmost respect for his work. Joe fought hard for us in that case and we were very happy with the outcome. After I moved to a new job at a different company, I found myself dealing with a similar situation. My new employer was the largest creditor in the default of another company. I called Joe to ask for help and he flew to Boston two days later to sit down with me and discuss the case. Joe took on that case for us with zeal and dedication we knew we could expect from him. It took three years to see that case through to the end, but Joe got us the right results. He remains the go-to attorney for the company in any creditors’ rights case. I enjoy watching Joe interact with opposing counsel – he is thoughtful, challenging and I’ve never seen him get caught off-guard. He is ethical, dedicated and provides the highest level of client service. Joe is always well-equipped in defense of his clients; there is no other attorney I would recommend in a bankruptcy case.”
Long Island, New York
“I’ve worked with Joe Coleman and the team at KRCL on many legal issues, but one big case stands out. Our company had a lease agreement with a customer who wasn’t able to make their payments and tried to cancel their contract with us. They owed us nearly $4.5 million dollars and when the case went into mediation, they made us an offer that didn’t come close to covering the debt when we factored in the interest owed, plus our legal fees and expenses. So we declined the offer and took the case into arbitration. Joe Coleman always gives us a very clear picture of the risks of taking a case to litigation – he warns us that we could incur high expenses and still lose, but we decided to go forward with this case. Robert Lemay handled the arbitration with Joe, and they took an aggressive but pragmatic approach to the case. They gave us good advice and solid options with detailed explanations at each point in the case, and did an exemplary job of representing us before the arbitration judge. It took more than a year and half, but they pressed on and in the end, we won nearly everything we asked for. The judge awarded us a sizable judgment, which covered everything we were owed plus almost all of our fees and expenses. Joe and Robert did an exceptional job representing us in this case. You don’t find a lot of attorneys like Joe Coleman. Even when we believed the other side was not being completely honest, Joe would not take that tack. He believed the facts supported our case and he would not stretch the truth or do anything unethical. His integrity is tremendous, and that’s important to me and to my company. Joe’s approach is very high energy. He’s aggressive and he does not back down, and he has the client’s interest at heart. My company expects a lot of bang for the buck and we need a highly effective law firm, which is why we turn to Joe Coleman and the attorneys at Kane Russell Coleman and Logan again and again.”
“When my company was involved in a commercial lease dispute that wasn’t going well, we needed to involve a commercial bankruptcy attorney to pursue an aggressive new strategy. When we chose Kane Russell Coleman Logan to handle the case, they were savvy enough to know that this case hinged on the business issues, and I was confident Joe gave us our best chance of winning. Joe understood that Nexion is a quality company committed to providing quality care for people, and he wanted to help us get the right outcome. Joe made me feel like I was his only client and his highest priority. He called me late in the evening sometimes with ideas to discuss or updates on the case. I don’t know how many lawyers would have the fortitude to take on a case this risky, but Joe embraced the fight, he took up our cause and he carried our message into court. Kudos to Joe and KRCL for thinking outside of the box and coming up with a game-changing plan to win this case. The results were far greater than I expected and I attribute that to Joe and the team at KRCL.”
Nexion Health Management, Inc.
- “Setoffs: Cutting Your Losses Both Inside and Outside Bankruptcy” – CRF News, Q1, 2015
- Defending Preferential Transfers: Don’t Forget the “Other” Ordinary Course Defense – The Ordinary Business Terms Defense, by Joseph M. Coleman and Robert J. Taylor, published in Credit and Financial Management Review, Volume 19, Number 4, Fourth Quarter 2013 (download article)
- Official Unsecured Creditors Committees: Lone Voice in the Wilderness or Leader of the Band – It’s Up to You – Webinar presented to National Network of Credit & Financial Professionals, December 11, 2018.
- When Customers Fail – Presentation, along with Grace Guan of Kane Russell Coleman Logan PC, to NACS Credit Services Sportswear Distributors/Institutional Textiles group in Grapevine, Texas, October 11, 2018.
- When Customers Disappear! (Go out of Business Without Filing Bankruptcy or Giving any Notice) – Presentation, along with John Kane of Kane Russell Coleman Logan PC, to Credit Managers at 2018 MFSG Educational Seminar in Chicago, Illinois, July 19, 2018.
- Consignment: An Option Worth Considering – Webinar presented, along with John Eberhardt of Nikon Americas Inc., to Federation of Credit and Financial Professionals, September 21, 2017.
- Here Comes the Judge – AntiTrust Issues and Collections Strategies – Presentation, along with Vienna Flores of Kane Russell Coleman Logan PC, to Credit Managers at 2017 MFSG Educational Seminar in Detroit, Michigan, September 14, 2017.
- The ABCs of Credit Management – Presentation, along with John J. Kane of Kane Russell Coleman Logan PC, to Sherwin Williams, Cleveland, July 21, 2017.
- A Proactive Credit Professional’s Guide to Antitrust Issues – Presented to Federation of Credit and Financial Professionals – Distillers, Importers and Vintners Credit Management Association, Irving, Texas, June 15, 2017.
- Structured Dismissals: The Good, The Bad and The Ugly – Panel Discussion presented at the 33rd Annual Bankruptcy & Restructuring Conference, hosted by Association of Insolvency & Restructuring Advisors. Mr. Coleman served on a panel along with Demetra L. Liggins of Thompson & Knight LLP and John E. Mitchell of Akerman, LLP, with the Honorable Craig A. Gargotta, U.S. Bankruptcy Judge for the Western District of Texas, as Moderator – Irving, Texas, June 9, 2017.
- A Teamwork Approach to Distressed Customers and Bankruptcy – Webinar presented, along with Denise R. Reyes of Acushnet Company, to Federation of Credit and Financial Professionals, May 23, 2017.
- Moderator for panel discussion at inaugural CR3 Partners, LLC company meeting in Dallas, Texas, January 20, 2017.
- Managing the Meltdown: Weapons in a Credit Professional’s Arsenal – Presented to Outdoors Products Credit Association in Houston, Texas, December 8, 2016.
- Guest Lecturer, The Significant and Strategic Impact of Non-Verbal Communication, at Collin County Community College, Frisco, Texas, November 3, 2016.
- The Preference Battlefield – Webinar presented, along with John J. Kane of Kane Russell Coleman & Logan PC, to NACM Credit Services, Inc., October 27, 2016.
- OK . . . You Asked For It!! – Presented at 2016 MFSG Educational Seminar in Detroit, Michigan, September 22, 2016.
- Complex Issues in Transfer Avoidance Litigation: A Trap, a Tool and a Hole – Presented with Lynn Hamilton Butler and Mark C. Taylor to the 33rd Annual Advanced Business Bankruptcy Conference in Austin, Texas, June 23-24, 2016.
- Managing the Meltdown: Weapons in a Credit Professional’s Arsenal – Presented to NACM – National Sporting Goods Manufacturers Credit Exchange in Grapevine, Texas on June 9, 2016.
- Credit Professionals Adding Value: Contract Evaluation and Selling to Potentially Troubled Customers – Webinar presented to Credit2B, Federation of Credit and Financial Professionals on July 14, 2015.
- Cutting Edge Preference Issues – Panel Discussion – Presented with Bruce Nathan of Lowenstein Sandler, LLP, and Richard Kulik of Sherwin Williams Co., at the Credit Research Foundation Credit & Accounts Receivable Open Forum in Tucson, Arizona, March 23, 2015.
- Cutting Edge Preference Issues – Presented with Bruce Nathan of Lowenstein Sandler, LLP, and Richard Kulik of Sherwin Williams Co., to MEMA Financial Services Group, Inc.’s Aftermarket Volume Credit Group in Cleveland, Ohio, May 21, 2015.
- Relevant Topics for Credit Professionals – Presented to Credit2B Distillers, Importers & Vintners Credit Group in San Antonio, Texas, March 12, 2015.
- Speaker at 2014 ABCD Motor Credit Association Educational Seminar in Philadelphia, Pennsylvania, September 17, 2014. Topics included Contract Preparation and Review and Preference Defenses.
- Speaker at Pentair, Inc.’s 2014 North and South America Customer Financial Services Conference in Minneapolis, Minnesota, July 15-16, 2014. Topics included were Contract Preparation and Review; Anti-Trust Concerns from the Credit Professional’s Perspective; and Collection Litigation Strategies.
- Faculty Member, American Bankruptcy Institute/Turnaround Management Association’s 13th Annual Litigation Skills Symposium, SMU Dedman School of Law – Dallas, Texas, May 20-23, 2014
- Consignment: An Option Worth Considering, Presented to Credit2B: A Smyyth Company, Educational Webinar, Dallas, April 3, 2014.
- Speaker, Structured Dismissals and Conversions: The Reality of Dealing with Post Sale Case Administration, 31st Annual Advanced Business Bankruptcy Course, Houston (February 20-21, 2014); Mr. Coleman’s Panel Discussion included the Honorable Judge Anthony Davis.
- Loan to Own Panel Discussion presented to DFW Chapter of Turnaround Management Association event, hosted by Deloitte-CRG. Mr. Coleman served as “Debtor’s Counsel” in the mock trial panel presentation along with William Snyder of Deloitte-CRG as Moderator, tried before the Honorable Stacey G. C. Jernigan – Dallas, Texas, January 23, 2014.
- Managing the Meltdown: An Examination of Creditors’ Bankruptcy Strategies, Presented to MEMA Financial Services Group, Inc., MFSG 2013 Educational Seminar, Detroit, Michigan, September 18, 2013.
- Faculty Member, American Bankruptcy Institute/Turnaround Management Association’s 12th Annual Litigation Skills Symposium, Problems in Bankruptcy Litigation and Advocacy, SMU Dedman School of Law – Dallas, Texas, May 21-24, 2013.
- The Anti-Trust Zone: An Experience of Complexity and Unpredictability and From Delinquent to Bankruptcy: Weapons for the Proactive Credit Professional, presented to Pentair, Ltd. credit managers at the Pentair, Ltd. North American Credit Workshop, Houston, Texas, February 11, 2013.
- Cash Collateral Mock Trial for DFW Chapter of Turnaround Management Association event, hosted by Deloitte-CRG. Mr. Coleman served as “Debtor’s Counsel” in the mock trial panel presentation along with William Snyder of Deloitte-CRG as Moderator & Debtor Financial Advisor, tried before the Honorable Stacey G. C. Jernigan – Dallas, Texas, January 24, 2013
- Best Practices for the Preparation of Financial Advisors for Examination – DFW Association of Young Bankruptcy Lawyers’ annual Financial Professionals Committee event, co-hosted by the Turnaround Management Association’s Next-Gen group. Mr. Coleman served as a panelist alongside the Honorable Judge Michael Lynn – Dallas, Texas, October 4, 2012.
- The Foreign Corrupt Practices Act: What You Don’t Know Can Hurt You, Presented to FORIUS – Shared Services Networking Group, NACM North Central – Minneapolis, Minnesota, July 25, 2012.
- Buyers Groups, Escheatment and Recent Developments in Bankruptcy, MFSG Educational Seminar, May 16, 2012, Chicago, IL
- Texas Two-Step: Impact of Corporate Formations Upon Collections and Bankruptcy Update for Credit Professionals, Presented to NACM – National Food Equipment Manufacturer’s Credit Exchange Group, Chicago, May 7, 2012
- From Delinquency to Bankruptcy: Weapons for the Proactive Credit Professional, MEMA Financial Services Group, Inc. MH/RV Subgroup, October 2009
- Bankruptcy: Weapons for the Proactive Credit Professional, MFSG Educational Seminar, May 2009
- A Proactive Credit Professional’s Guide to Antitrust Issues and to Dealing with Bankruptcy, MEMA Manufactured Housing and Recreational Vehicle Credit Group Meeting, October 16, 2008
- Managing the Meltdown; A Credit Professional’s Guide to Bankruptcy, NACM Midwest Conference, October 2007
- Post-BAPCPA Bankruptcy, MFSG Educational Seminar, September 2007
- Committee Issues: Ethical Considerations for Creditors’ Committee Counsel – presented by Joe Coleman and Michael D. Warner of Warner Stevens LLP at the State Bank of Texas 25th Annual Advanced Business Bankruptcy Course in Dallas, Texas, February 2007
- Protecting Yourself and CRP While Parachuting Behind Enemy Lines – participated in panel discussion with Lou Strubeck of Fulbright & Jaworski at Corporate Revitalization Partners, LLC’s Company Conference in Dallas, Texas, January 2007
- From Delinquency to Bankruptcy: Weapons for the Proactive Credit Professional – presented to credit professionals at Pentair, Inc.’s 2007 North America-Mexico Customer Financial Services Conference in Scottsdale, Arizona, January 2007
- The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Impact upon Business Bankruptcies – presented at the 13th Annual Corporate Counsel Symposium sponsored by the SMU Law Review Association in Dallas, Texas, October 2006
- The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Impact upon Business Bankruptcies – presented to The Subscribers of MEMA Financial Services Group at their annual educational seminar in St. Louis, Missouri, September 2006
- The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Impact upon Business Bankruptcies – presented to Manufacturers Clearing House Trade Creditors’ Group in Rosemont, Illinois, September 2006
- Sarbanes-Oxley Act: A Primer for Credit Professionals, MEMA, March 2006
- Anti-Trust, Escheatment, Purchase Money Security Interest (PMSI), Consignment and Creditors’ Rights Issues – presented to Pentair, Inc., February 2006
- Bankruptcy Abuse Prevention and Consumer Protection Act: Impact on Business Bankruptcies, Presented at 13th Annual SMU Corporate Counsel Symposium, October 2005
- Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Impact on Business Bankruptcies, Presented to Pentair, September 2005
- Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Impact on Business Bankruptcies, Presented to Manufacturers Clearing House Trade Creditors’ Group, September 2005
- Managing the Meltdown: Pre-Bankruptcy Strategies and Preferential Transfers, Presented to NACM: Chicago Tools Group, May 2005
- Everything you Wanted to Know About Preferences (And Some Other Good Stuff), Presented to Polymer Distributors Credit Group, May 2005
- Managing the Meltdown: Surviving Your Customer’s Financial Distress, Presented to Pentair, February 2005
- Sarbanes-Oxley Act: A Primer for Credit Professionals, Presented to National Association of Credit Managers (National Convention), May 2004
- Sarbanes-Oxley Act: A Primer for Credit Professionals, Presented to Motor Equipment Manufacturers Association (MEMA), March 2004
- Sarbanes-Oxley Act: A Primer for Credit Professionals, Presented to Pentair, February 2004
- Committees in Chapter 11 Cases, Presented to Oklahoma Bar Association, October 2002
- Revised Article 9: Navigating the Universe of Revisions to Article 9 of the Uniform Commercial Code, Presented to MEMA, July 2002
- Managing the Meltdown: Pre-Bankruptcy Strategies for Unsecured Creditors, Presented to NACM-Houston, June 2002
- Unleashing the Power of Official Unsecured Creditor Committees, Presented to NACM-Houston, June 2002
- Bankruptcy Strategies for Unsecured Creditors, Presented to NACM-St. Louis, October 2000
- Faculty Member American Bankruptcy Institute, Trial Advocacy Program.
- American Bar Association, Business Law Section.
- Dallas Bar Association; Corporate Reorganization, Creditor Rights Section, Bankruptcy and Business Litigation Sections.
- State Bar of Texas; Business Law Section, Bankruptcy Reorganization Committee.
- Turnaround Management Association.
- Successfully summited Mt. Kilimanjaro
- Dallas White Rock Marathon finisher
- Past Chair, Prince of Peace Catholic Community Parish Advisory Council
- Coached 25 youth sports teams
- Recently completed nine-year term as Trustee of the Catholic Foundation
- Founding Board Member, Center for Thomas More Studies, University of Dallas
- Founder, Rev. Richard J. Hauser, S. J. Scholarship Fund at Creighton University
- Recipient of President’s Award, Ursuline Academy High School
- Trustee of the Jesuit College Preparatory High School Foundation and Chairman of the Jesuit College Prep HS’ Annual Challenge Drive, wherein over $1 million was raised in less than two months
- Joe Coleman Comments on Sale of KC7 Ranch in “Stalking Horse Deal” [read full press release]
“In my over thirty years as a corporate bankruptcy lawyer, I’ve never before heard of the appointment of a ‘Chief Marketing Professional’ in a bankruptcy case, but I think it is a unique and creative solution agreed to by the parties and approved by the Court. With the benefit of Icon Global’s experience and remarkable marketing efforts, I expect to have the KC7 Ranch sale approved and closed in less than six months from my appointment,” said Mr. Coleman.
Coleman stated, “I interviewed many of the state’s leading ranch brokers and chose Bernard Uechtritz specifically because of his extensive experience and track record in successfully and aggressively selling a diverse range of big-ticket properties, particularly in unique and difficult circumstances, such as we have with the KC7 Ranch, Ltd. Bankruptcy. I have full confidence that this Ranch will be sold in an expedited and timely manner consistent with the approved marketing strategies pursuant to the Court’s order.”
- Joe Coleman Discusses Mediation of Puerto Rico
Bankruptcy with The Texas Lawbook [read full article]
“I cannot imagine anyone better suited for this extraordinary challenge than Judge Houser,” says Joe Coleman,
a bankruptcy partner at Kane Russell Coleman & Logan in Dallas. “The Puerto Rico crisis is not a Chapter 11
and it is not a Chapter 9. “These are unique, uncharted waters,” Coleman says. “The resolution of this is going
to be a significant challenge.”
Joe Coleman Quoted in ICAS article on Impact of 2017 Hurricanes on Puerto Rico’s Financial Recovery [read full article]
“You have a tremendous amount of bond investors with billions of dollars of bond debt and retirement funds invested in Puerto Rico bonds, and investment companies that have tremendous amounts invested,” said Joseph Coleman. “Now there’s a question of when those will be paid and the ripple effect throughout the US and world is significant.”