If the partners in a business have come to the agreement that filing bankruptcy is the best option for the company financially, then there are two Chapters to file under. Chapter 7 and Chapter 11 bankruptcy are options for a partnership. Where Chapter 7 allows for trustees to sell of remaining assets for payable funds…
Read more
Filing for bankruptcy as a sole proprietor? Chapter 11 may be the best option to save your business. When owning a small business, generally the sole owner has many of their assets tied into the business. For this reason, small businesses are allowed the ability to rearrange their debt in order to catch up on…
Read more
In our last blog, we touched on the three potential bankruptcy options for your small businesses and their owners. I’d like to dig a bit deeper into the last option, Chapter 11. Filing under this chapter can be a saving grace, because it is the only bankruptcy chapter that can allow for the business to…
Read more
Coming to terms with filing for bankruptcy can be an arduous process. Although it’s a last resort for many small companies, it can also be a way to revitalize your business. There are a few different ways to file and selecting the right one for your situation will be the first step in relieving debt.…
Read more
Obtaining exit financing can be a difficult piece of the puzzle for chapter 11 corporate debtors. In fact, in a closely held company, the inability of equity security holders to retain their securities in light of the absolute priority rule in bankruptcy without finding new investors, can be a death knell to a reorganization from…
Read more