It is a simple fact that businesses can acquire cash flow issues at some point in their development. This does not mean that the business itself needs to fail or that the services they offer need to be fundamentally changed. But it can mean that the business gets into...
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Chapter 11 Bankruptcy for Businesses
Liquidating a business through Chapter 11
If you are the owner of a small business and want a fresh start from your debts, then you have many options open to you. It is important to remember that by filing for bankruptcy, you are not admitting defeat, but instead taking action to strategically move forward....
Using Chapter 11 as a strategy
2017 brought a number of high-profile Chapter 11 bankruptcy filings into the spotlight. Companies like Seadrill Limited (a deepwater drilling contractor) and Walter Investment Management Corp. (mortgages) lead the pack with debt of $21.7 billion and $16.8 billion,...
An outline of the chapter 11 business bankruptcy process
Filing for a Chapter 11 bankruptcy can be a long process. It involves multiple hearings in order to finalize the reorganization of your business and debts. Below is a brief summary of the main steps. Gathering your documents: Compile a list of all your company’s...
When should businesses file for Chapter 11 bankruptcy?
There are many instances when businesses become in dire need of a fresh financial start. Debts can become a vicious cycle of repayments and inability to meet those repayments, ultimately incurring further costs. If you are the owner of a small business, you may want...
Business bankruptcy: considering Chapter 11
If a business is going through hard financial times, the most important thing is to find a way to get the debts repaid, while at the same time maintaining and growing the current business streams. This can be a hard act to juggle, and there are many possible...
Are you eligible for Chapter 11 bankruptcy?
Chapter 11 bankruptcy is a way for an individual person or a business to be able to make the necessary changes in reorganizing their payments, debts and income streams. It also is very helpful for those struggling with trying to get on top of their payments while they...
Chapter 11 bankruptcy can be a good thing for business
When thinking about your business, you know that failure is not an option. Unfortunately, 80 percent of new businesses fail within the first 18 months, according to Forbes. What options do owners have when a business is in the doldrums? Legal options are available to...
Product liability and chapter 11 bankruptcy
A mass recall causes many problems. There's the damage to your reputation, but also the cost of replacing thousands of dollars of merchandise. Depending on the recall, there is often a product liability lawsuit to go with it. In severe cases where products cause...
Know the law on Chapter 11 Bankruptcy Agreements
Chapter 11 Bankruptcy is known as "reorganization" bankruptcy; often, it's a way for companies to carry on some or all of their business activities by restructuring to create a profitable plan for the future. This may be done by large organizations, or by small-medium...