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When a business files for Chapter 11 bankruptcy, debts that are individually guaranteed by the owner (or by others, such as family members) can have different consequences from the debts of the business that do not have individual guarantees. While t…
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Businesses considering Chapter 11 bankruptcy often ask whether the process allows the business to buy and sell assets during the bankruptcy process. Generally, a business that is the debtor in possession during a Chapter 11 case may buy and sell real…
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When a business that is under significant financial stress considers bankruptcy as an option for liquidating assets, Chapter 7 is the type of bankruptcy that first comes to mind. However, Chapter 11 bankruptcy can also be used to liquidate some or al…
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A merchant cash advance (MCA) is a type of relatively quick and easy business financing. MCAs are easy to get but typically have exceptionally high interest rates and fees that can significantly affect profitability until they are repaid. In addition…
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Chapter 11 provides a debtor with the opportunity to formulate a structured repayment plan to reorganize, reduce debts over time, and remain in business. With guidance from an experienced Chapter 11 bankruptcy lawyer, successful completion of the pro…
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When an individual or business considers bankruptcy, one of the key concerns for the debtor is often whether business and/or personal assets are kept during the bankruptcy process. In a Chapter 11 reorganization bankruptcy, the debtor-in-possession g…
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The need for Chapter 11 bankruptcy can arise in many different ways. While overwhelming debt is often the main cause, businesses and individuals facing pending litigation in multiple jurisdictions may also benefit from Chapter 11. If you are a busine…
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One of the significant benefits of Chapter 11 bankruptcy is the automatic stay on debt collection. The automatic stay prohibits activity by creditors and claimants to pursue litigation, judgments, collection activities, foreclosures, and repossession…
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If a business struggles with overwhelming debt, the owner may consider Chapter 7 or Chapter 11 bankruptcy. These two types of bankruptcy have very different outcomes. For a business owner, understanding the difference between Chapter 7 and Chapter 11…
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As the most complex type of bankruptcy, Chapter 11 bankruptcy can be confusing and misunderstood, especially because it is very different from other types of bankruptcy. At Wernick Law, we concentrate the majority of our practice on Chapter 11 debtor…
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