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Posts tagged "debt relief"

Asset sale during bankruptcy keeps retailer in business

If your business has taken on heavy debt that could easily become unmanageable, then you may have a number of debt relief options. For many businesses, Chapter 11 bankruptcy is too costly and time-consuming to make economic sense. For other companies, however, Chapter 11 offers the protections needed to get the business back into profitability.

For-profit Corinthian Colleges Inc. fends off legal claims with Chapter 11

Recently we discussed some cost-efficient tools that struggling businesses can use to address their debt problems. Specifically, Article 9 of the Uniform Commercial Code provides a way for debtors and creditors to resolve debt issues while avoiding the cost of bankruptcy.

Article 9 of Uniform Commercial Code a cost-efficient tool for struggling businesses

Many struggling businesses need the protections offered by Chapter 11 bankruptcy, but Chapter 11 is not the right choice or even feasible for every business with heavy debt. Chapter 11 is highly procedural and costly in terms of money and time, and there may be better options for debtors and creditors alike.

Survey predicts increased need for Chapter 11 restructuring in certain industries

Since the end of the Great Recession, the number of individuals and businesses filing for Chapter 11 bankruptcy has declined significantly. However, a recent survey of 165 bankers, fund managers, lawyers and other restructuring professionals suggests that the United States may see an uptick in Chapter 11 filings in certain industries.

Deal reached between secured lenders and indebted software developer

If your business is having debt troubles and facing possible insolvency, then it is important to be aware of every debt relief option. While filing for bankruptcy is appropriate in many cases, debts can also be settled without going to court.

Debt relief options for California business owners

If you're a business owner with debt troubles, then you're not alone. The risks associated with running a business are high, and bankruptcy laws take that fact into account. Heavy debt obligations may necessitate filing for bankruptcy, but depending on your particular situation, you may have a number of options for out-of-court solutions.

Will an out-of-court workout settle your business debts?

There is always risk in starting or purchasing a business. If things don't go as planned and your business is facing insolvency, then the bankruptcy system in the United States provides options for a fresh start. Bankruptcy can be a key component in helping business owners keep their companies intact or move on to new opportunities.

LA sound effects company to sell assets in Chapter 11 auction

If you're considering business bankruptcy, then you have a variety of options, and the path you choose will depend on the specifics of your business. If personal liability is an issue, then Chapter 7 bankruptcy may be the appropriate route. With Chapter 7, an automatic stay is placed on creditor actions, including foreclosure, repossession and garnishment.

Chapter 11 or Chapter 7: Which is right for your business?

Risk is a part of business. You can take action to minimize risk, but there may still be unforeseen events that result in losses. The Bankruptcy Code takes into account risk and offers protections for debtors and creditors. At Shulman Hodges & Bastian LLP, we help businesses choose the appropriate debt relief option, whether it's restructuring the business through Chapter 11, a liquidation under Chapter 7, an out of court workout, an assignment for the benefit of creditors, or a formal dissolution.

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