Troubled small business owners often do not have the financial resources to file for relief under Chapter 11 of the Bankruptcy Code and confirm a plan of reorganization. Chapter 11 is designed to assist troubled companies reorganize their debt, allowing for a fresh...
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Corporate Bankruptcy & Restructuring
What does business bankruptcy look like? A brief case study.
The term bankruptcy likely brings to mind pictures of closed, dusty, vacant buildings. Depending on the type of bankruptcy and the business’ owners goals the reality can be much different. Retail giant JCPenney is set to provide an example of what a successfully...
Bankruptcy: What do I need to know about Rule 9019?
It is not uncommon for bankruptcy litigation to end in a settlement. In other legal matters both parties will generally agree to a proposed settlement before presenting it to the court, but this is not always the case for a settlement in bankruptcy. Instead, with...
What happens when a private equity deal goes sour?
Private equity firms have taken to a wide market, purchasing everything from doctor’s offices to pet stores. Entrepreneurs who run these firms profit by purchasing a business only to turn around and sell it at a higher rate a few years later. Business leaders who go...
Understanding Chapter 11’s Subchapter V
The Small Business Reorganization Act of 2019 created a new subchapter within the Chapter 11 bankruptcy process. Subchapter V is designed to streamline the process for small businesses seeking the protections of Chapter 11. Signed into law in 2018 and going into...
Three alternatives to business bankruptcy
Business owners struggling with insolvency may wish to avoid bankruptcy. Although bankruptcy can provide a fresh financial start through a sale, liquidation or restructuring, it is not the right option for every business. In some cases, one of these other...
Can a Chapter 11 reorganization bankruptcy work for my company?
In its most basic form, a Chapter 11 bankruptcy petition allows a business to restructure its debt. This can result in a greater cash flow and help the business regroup, ultimately putting it into a situation where it can move forward instead of remaining stagnant and...
How can a company survive bankruptcy?
The financial scenarios that could lead to a bankruptcy filing vary significantly between businesses. The current economic climate has caused an increase in Chapter 11 filings as companies attempt to salvage their business. For companies focused on the retail and...