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As a business owner, you may face financial difficulties that can threaten your company's future. In such situations, it's important to explore all the options available to you. One of those options is filing for Chapter 11 bankruptcy, which can help you reorganize...
When you decide to file for bankruptcy to avoid further debt or reorganize your business, you are required to inform your employees, which will likely cause specific concerns. It's important to understand the best methods to share this news with your employees and to...
Many individuals facing bankruptcy choose to work with an attorney because they recognize the complexity and importance of the process. If your business is considering bankruptcy, working with an attorney is required. One of the critical responsibilities an attorney...
It is no secret that the last couple of years has taken their toll on small and medium-sized companies. If your business is struggling and you are considering filing for bankruptcy, Chapter 11 may be your best option. Chapter 11, often called reorganization...
Filing for bankruptcy is one of the options that businesses can pursue when struggling to meet their financial obligations. It can provide an avenue for companies to liquidate their assets and pay creditors or reorganize the business to allow them to pay off these...
In Florida, an LLC or partnership can be forced to dissolve or reorganize if one partner files for bankruptcy. However, the court will work with the remaining partner to ensure that the business continues to run smoothly while the bankrupt partner works their way out...
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...
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...