District Court Disrupts Purdue’s Reorganization Plan: Future Restructuring Challenges Might Lie Ahead

Admin on January 24, 2022 Posted in Articles, Bankruptcy News, Blog

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Bankruptcy Court Issues Decision about Restrictions on Bankruptcy Blocking 

Admin on December 23, 2021 Posted in Blog

Courts can not come to a consensus about whether statements found in a borrower’s documents established to prohibit the borrower from filing for bankruptcy are enforceable as the result of either federal public policy or state law.  Various court rulings have tackled this issue over the last few years. A New Jersey District Bankruptcy court […]

Subchapter V Makes it Easier to Navigate Chapter 11

Admin on June 30, 2021 Posted in Bankruptcy Law, Blog

The number of bankruptcy cases in the last few years has risen substantially, which has led many people to consider bankruptcy as a method of taking control of debts. While the COVID-19 pandemic impacted countless workers, hotel owners and workers have been some of the most negatively impacted. This is because occupancy rates at hotels […]

Sears Files Chapter 11

Admin on January 15, 2019 Posted in Bankruptcy Law, Blog

Corporate bankruptcies are somewhat misunderstood. While Chapter 11 bankruptcy is called a reorganization, the idea that a business will emerge from bankruptcy stronger is not as simple as just filing for bankruptcy. Instead, there are other relevant factors required that will allow a bankruptcy to rehabilitate a business. Sears Currently, the once-mighty Sears Holdings is […]

Chapter 11 Negotiation

Admin on January 5, 2019 Posted in Bankruptcy Law, Blog

Chapter 11 bankruptcy is a negotiation. As a result, it is imperative to consider strategies that keep your business alive during and after bankruptcy. Languishing in negotiation for a prolonged period of time can result in the liquidation, not reorganization, of a business. Chapter 11 Discharge In general, the goal of a bankruptcy is to […]

DIP Financing

Admin on December 31, 2018 Posted in Bankruptcy Law, Blog

The United States Bankruptcy Code, or the Code, provides a variety of chapters wherein a distressed debtor can file. Debtors are afforded a filing pursuant to Chapters 7, 9, 11, 12, 13, and 15 and there is a proposed Chapter 17. There are also differences depending on whether the petition is being filed by an […]

Chapter 11 Bankruptcy for Individuals

Admin on February 1, 2018 Posted in Blog

In 1996, Oakland native and rap superstar M.C. Hammer, whose real name is Stanley Kirk Burrel, filed for bankruptcy. His bankruptcy petition claimed that he had assets of approximately $1 million and liabilities of at least $10 million. He owed over a million dollars to Winterland Records and had liabilities to two different Bay-area lawyers. […]

Individuals in Chapter 11 Bankruptcy

Admin on June 9, 2017 Posted in Blog, General Bankruptcy

Under the United States Bankruptcy Code, or the Code, individuals who are in debt can attain debt relief through Chapter 7, 11, or 13. Most commonly, individuals will file for either a Chapter 7 or Chapter 13, while businesses commonly file Chapter 11. Nonetheless, under certain circumstances, individuals will utilize the Code through a Chapter […]

363 Sales

Admin on February 4, 2017 Posted in Bankruptcy Law, Blog, Chapter 13 Bankruptcy

Upon filing a bankruptcy case, “all legal or equitable interests of the debtor in property as of the commencement of the case” becomes the property of the bankruptcy estate. If bankruptcy estate property is to be sold, such a sale is termed a “363 sale,” or a bankruptcy sale. A 363 sale is based on […]