Filing for Chapter 11 bankruptcy marks a challenging but hopeful turning point for many business owners. While this legal protection gives you room to reorganize, it brings up crucial questions about your ongoing responsibilities. Among your most important concerns,...
Chapter 11
What should be outlined in a reorganization plan?
In a Chapter 11 bankruptcy, the court must approve a reorganization plan before the business can move forward with its recovery. This document serves as a contract between a business and its creditors, outlining how the company will manage its debts while staying...
Three common mistakes business owners should avoid when filing for Chapter 11 bankruptcy
As a business owner, filing for Chapter 11 bankruptcy can be challenging. Chapter 11 may offer businesses an opportunity for reorganization and debt restructuring. However, there are mistakes in filing that you should be aware of. Doing so may ensure a smoother...
Filing a Chapter 11 bankruptcy for business: What’s next?
When you are an entrepreneur, the thought of losing your business can be frightening. Filing for Chapter 11 bankruptcy is a courageous step to reorganize your finances and pave the way for a more stable future. Knowing what to expect next can provide you with...
Critical considerations for Chapter 11 bankruptcy filing
When your business faces financial difficulties, filing for Chapter 11 bankruptcy may be viable. However, before taking this significant step, you must understand the process and its implications. Below are important considerations when considering Chapter 11 business...
How do you disclose bankruptcy to your employees?
When you file for business bankruptcy, you may have to inform your employees about it. This is often a tough process. Employees naturally worry about job security and benefits, and discussing the business’ probable future may be challenging. Still, clear and honest...
Bankruptcy can help your business bounce back from crisis
Many people perceive bankruptcy as a frightening word. It is often associated with financial struggle, business shutdown, bottomless debt and a loss of assets. As large businesses file for bankruptcy all around Florida, you could be anxious about the future of your...
Can I lose my home after filing for bankruptcy?
For property owners, filing for bankruptcy may sound scary. This process helps address overwhelming debt by organizing assets and paying off creditors while receiving the court's help to determine relief options through discharges and other arrangements. This process...
How will creditors affect your Chapter 11 bankruptcy filing?
When you file for a Chapter 11 bankruptcy, your goal is to reorganize your business affairs, assets and debts in order to make a fresh financial start from debt. It can protect your business’ assets from being seized by creditors, especially if your company is in a...
How does a Chapter 11 bankruptcy affect your employees?
Filing for Chapter 11 bankruptcy means the company is facing financial difficulties. However, it believes it can recover. This type of bankruptcy allows the business to continue operations while restructuring its debts and business model. It has significant...