If you're thinking about filing for business bankruptcy or are a creditor in a litigant's case, you're probably wondering how the process is and how creditors will be affected. Creditors are an important part of the bankruptcy process, and in Chapter 11 bankruptcies,...
Standing Tall When It Matters Most
Month: April 2022
Sole proprietorships under bankruptcy
Many businesses operate under the direction of one central owner who makes all pertinent operating decisions for the most part. These are called sole proprietorship entities where the owner is basically indistinguishable from the company. Just as with a corporation or...
Is restructuring better than liquidation for businesses?
Rushed liquidations may cost creditors billions of dollars annually. Restructuring and reviving businesses instead may be better for everyone. Chapter 11 protects businesses and helps get them a fresh start. Through Chapter 11, creditors can recoup most of what they...