What’s interesting about Chapter 11 bankruptcies is that both individuals and companies can both file a Chapter 11. For individuals a Chapter 11 bankruptcy is a good option if a person has substantial assets that are essentially too high for what the bankruptcy code allows. More commonly, however, the Chapter 11 bankruptcies are filed by

There are definitely alternatives to bankruptcy. I generally try to recommend those alternatives before recommending that a client file for bankruptcy. One of the options that business owners have is the opportunity to enter into workout agreements with their creditors. Another type of option that a business client may have is what we call an

That’s a great question.  Ordinarily a Chapter 13 is only for individuals.  However, there are exceptions.  Business can file for a Chapter 13 bankruptcy if that business is in the form of a sole proprietorship.  In that case, the business can receive the benefits of its owner filing a Chapter 13 bankruptcy and, in turn,

The short answer is yes, however, generally businesses bankruptcy is the last resort.  There’s so many other options available to companies who are facing financial difficulties.  My recommendation is always to sit down with your attorney and figure out if there’s another way for you to deal with any of the financial pressure that you’re

For a company that thinks they may have some issues but they really have done an analysis, a thorough analysis, and have a good sense that they don’t necessarily need to file a bankruptcy they may, number one, want to consider other options for dealing with those issues that are making them a little uncomfortable.

If you’re a creditor and someone that owes you money is about to file for bankruptcy or has filed for bankruptcy, the first thing that I recommend is that you hire an attorney who can represent your interest in that bankruptcy case. The bankruptcy code is a complex set of rules, however, with the right