Category Archives: Chapter 11 Bankruptcy
Are Companies Required to Disclose Chapter 11 Bankruptcies?
While reorganizing a company’s debts under Chapter 11 can have several benefits in the right circumstances, one of the drawbacks of filing is that Chapter 11 proceedings are generally public record. But, even with this being the case, if filing under Chapter 11 is necessary to sustain the company’s operations, this can be a… Read More »
How Do Companies Keep Operating After Bankruptcy?
Filing for bankruptcy doesn’t necessarily mean going out of business. Not only can businesses survive the bankruptcy process, but if they take an informed and strategic approach to the process, they can come out financially stronger on the other side. Learn more from an experienced Chapter 11 bankruptcy lawyer at Edelboim Lieberman: What Business… Read More »
What Can Happen if a Struggling Business Doesn’t File for Bankruptcy?
We talk a lot on our blog about the benefits of filing for bankruptcy and the importance of making informed decisions before it’s too late. While filing for bankruptcy isn’t the right approach in all cases, when it is the right approach, acting promptly can be critical for protecting businesses’ interests and maximizing the… Read More »
Business Bankruptcy vs. Assignment for the Benefit of Creditors (ABC): Key Considerations for Struggling Businesses
While struggling businesses have a variety of options for dealing with financial distress, two of the primary options in this scenario are: (i) pursuing a business bankruptcy under Chapter 7 or Chapter 11; and (ii) pursuing an assignment for the benefit of creditors (ABC). Each of these options presents its own unique set of… Read More »
What if Your Company’s Chapter 11 Reorganization Plan Isn’t Working Out?
When companies pursue reorganization under Chapter 11, they typically do so with optimism for the future. The purpose of reorganizing under Chapter 11 (as opposed to liquidating under Chapter 7) is to keep the company afloat while it pursues a path toward profitability. But, even with a strong plan and the best of intentions,… Read More »
Responding to Allegations of Bankruptcy Fraud or Abuse
Last month, we published an article discussing common allegations of bankruptcy fraud and how to avoid these allegations when going through the Chapter 11 reorganization process. This month, we’re shifting focus to later in the process: What if it is too late to avoid allegations of bankruptcy fraud or abuse? An experienced Miami bankruptcy… Read More »
The “Five Ws” of Chapter 11 Reorganization Plans
While some business owners and executives are well-versed in the intricacies of the Chapter 11 bankruptcy process, for those who haven’t been through the process before, learning what to expect is the first step. Unlike Chapter 7 bankruptcy proceedings (which involve liquidating a business’s assets), Chapter 11 proceedings involve restructuring the business’s debts so… Read More »
Bankruptcy Fraud and Abuse: How to Avoid Allegations During a Chapter 11 Reorganization
A recent article from the Government Accountability Project discusses the role of forensic accountants employed by the U.S. Department of Justice (DOJ) in uncovering fraud and abuse during the bankruptcy process. While the article focuses specifically on the DOJ’s recent firing of a forensic accountant in Texas, forensic accountants continue to play a key… Read More »
When Is It Time to Talk to a Business Bankruptcy Attorney?
As a business owner, it can be difficult to know when it is time to consider seeking financial relief through the bankruptcy process. While it will usually make sense to try to figure out a way to avoid a bankruptcy filing for a period of time, there is also a point at which waiting… Read More »
What Are the Different Types of Business Bankruptcies?
If your business is in financial distress, filing for bankruptcy could be the best option. Filing for bankruptcy provides immediate relief from creditors’ collection efforts, and, depending on the type of business bankruptcy you choose, going through the process could be a cost-effective way to either wind up your business’s operations or restructure your… Read More »