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Economically difficult times can lead to dwindling liquidity, potential covenant breaches and near-term maturities. Business managers may consider reorganization under chapter 11 bankruptcy over termination under chapter 7 bankruptcy. Chapter 11 bankruptcy has a few...
Almost every consumer bankruptcy case has a bankruptcy trustee or an administrator with different roles and obligations. The court usually appoints the trustee, who plays a significant role in overseeing the debtor's bankruptcy estate in a bankruptcy case. According...
A variety of factors may lead a company to consider filing bankruptcy. A business concept might not have taken off or thrived as well as initially expected. A company may have experienced a recent downturn in business due to changes in the market. There may also be a...
When a business files for bankruptcy, it can seem like a mark of failure. The word itself carries a negative connotation, but bankruptcy is simply a legal filing, often made by businesses with a solid plan in place. Chapter 11 bankruptcy in particular is designed to...
In the midst of financial difficulties as a business owner, you may be weighing your options for bankruptcy. Having a general understanding of how different types of bankruptcy work can better inform your decisions on the future of your company. Here are some main...
Business owners around the country have faced unprecedented financial challenges over the past two years. In such cases, it is important to be able to envision pragmatic solutions to insolvency. These may involve debt restructuring or even liquidation in today’s...
Going through bankruptcy as a business owner can generate feelings of uncertainty regarding the future. What's more, that worry is compounded when questions arise regarding your personal assets and financial situation. One of those concerns is whether or not your...
It’s no secret that energy costs are skyrocketing. Your business is in a slump, but the balance on the utility bills just keeps getting higher. As it gets clearer that you’re probably not going to be able to keep your business going unless you file for a Chapter 11...
When a business declares bankruptcy, it can be scary for the owners. All of their hard work has gone down the drain, and they may not know what will happen next. One of the biggest questions on people's minds is what happens to their personal assets? Will they lose...
Companies don’t always produce the income they need to cover the bills. While this is just a normal part of business, it can be problematic if it occurs over a prolonged period. The business owner may soon realize that they’re going to have to do something to take...