Most people associate Chapter 7 bankruptcy with consumers who have accumulated a significant level of debt and need a fresh financial start. However, Chapter 7 bankruptcy can also be filed by Texas businesses that need to unload specific debts as well. It is even...
Standing Tall When It Matters Most
Bankruptcy
The fate of your stocks after a bankruptcy
The leaders of a failing company have several options for dealing with the situation. They can go into damage control mode and attempt to restructure. This usually occurs during a Chapter 11 bankruptcy. The company can also shut down completely and liquidate its...
The role of Chapter 11 creditors’ committees in Texas
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,...
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...
Bankruptcy for small businesses
There are many misconceptions about a business filing bankruptcy in Texas. For example, the business doesn't always cease operation, as commonly believed. What happens to the business depends on the type of bankruptcy and the owner's goals. Chapter 7 bankruptcy for...
The basic process of Chapter 7 bankruptcy for LLCs
Every Texas business has a limited number of options for eliminating their debts. Filing for bankruptcy is one solution, but it may lead to the liquidation of a business's assets and its final dissolution. There are different advantages and disadvantages for a Limited...
What debts cannot be discharged in bankruptcy?
Bankruptcy might be the best option for Texas consumers who are overwhelmed by their financial obligations. For many, Chapter 7 bankruptcy is best. However, it’s important to know which debts cannot be discharged. What is nondischargeable debt? Many debts can be...
Benefits of DIP financing in Chapter 11 bankruptcy
Debtor-in-possession, or DIP, financing helps a business to remain active and improve its current financial status. Chapter 11 bankruptcy allows Texas business owners to make payments without having to sell off their assets. They are allowed to work with creditors and...
Considering bankruptcy? Learn about Texas’s homestead exemption
It can be extremely nerve-wracking to make the decision to go through with filing for bankruptcy. If you are considering taking that route to deal with your financial challenges, you may have concerns about losing everything and having to start over from scratch. The...