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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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Chapter 11, Subchapter V of the U.S. Bankruptcy Code contains special provisions for a small business bankruptcy process that is more streamlined and less costly than the standard Chapter 11 business bankruptcy process. If a small business or individ…
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A business owner who considers filing for bankruptcy often asks whether the business can continue to operate after they file bankruptcy. The answer largely depends on the chapter of the U.S. Bankruptcy Code under which the business files. At Wernick…
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In a bankruptcy proceeding, the Bankruptcy Code authorizes the trustee (or the debtor in possession if the case is a chapter 11) to initiate legal actions within the bankruptcy case to recover funds distributed by the debtor to entities or individual…
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