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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...
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 you think of a business that is restructuring for a better financial outcome, do you imagine a large corporation? Maybe you think about a business with 500 employees or a massive factory that produces many of the products people use today. While Chapter 11...
When your business is in financial straits, filing for Chapter 11 bankruptcy is an option, especially when you do not want to cease operations. Unlike with a Chapter 7 bankruptcy that practically liquidates your business, filing for Chapter 11 gives you a chance to...
Did you know that Puerto Rico has been involved in a bankruptcy issue for nearly five years? You may not think of states or U.S. territories as places that can go bankrupt, but they can take on debt loads and may have to restructure their debts to stay functional,...
Did you know that you do not have to close down your company even after declaring bankruptcy? By filing Chapter 11, you can stay afloat by restructuring the company's debts and obligations. So, while you may not have total control of the company, operations will...
As the owner of a small business, it can be difficult to imagine closing your doors. However, if you’re struggling to bring in a profit and aren’t able to pay bills on time, then you may be considering bankruptcy. Small businesses are struggling in the United States,...
Many people use the terms “bankruptcy” and “insolvency” interchangeably. While neither is where any business wants to be, it’s important to understand that they are two different things. A business is considered insolvent if it’s unable to pay its bills when they’re...
Two of the most important aspects of a Chapter 11 bankruptcy is when the Court confirms your reorganization plan and you sell off some of your company's major assets to pay off your creditors. The liquidation of this property is referred to as a "363 sale". You may...