Category Archives: Chapter 7 Bankruptcy
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 »
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 »
Involuntary Bankruptcy: What Florida Business Owners and Executives Need to Know
While businesses can use bankruptcy as a tool to avoid collection, alleviate financial strain, and restructure their debts for the future, creditors can use involuntary bankruptcy as a tool to protect their interests as well. If your business is facing an involuntary bankruptcy petition, there is a lot you need to know, and it… Read More »
My Company Received a Notice of Bankruptcy. What Should I Do?
If your company has received a Notice of Bankruptcy, this means that one of your clients or customers (or an affiliated entity) is seeking relief from its debt obligations in the U.S. Bankruptcy Court. If its efforts are successful, this could mean that your company will no longer be able to collect the monies… Read More »
Bankruptcy Options and Alternatives for Small Businesses in Florida
From high interest rates to the lingering effects of the COVID-19 pandemic, many small businesses in Florida find themselves struggling for a variety of reasons. If your small business is struggling, it may be worth considering bankruptcy and its alternatives. Small business owners have a variety of options available, and an experienced Miami bankruptcy… Read More »
Seeking Relief from the Automatic Stay: Protecting Creditors’ Rights During the Bankruptcy Process
Customer and client bankruptcies can present significant risks for creditors. Chapter 7 and Chapter 11 of the U.S. Bankruptcy Code both provide opportunities for filers to significantly reduce (if not eliminate) their debt obligations, and Subchapter 5 of Chapter 11 allows small business filers to do so with limited creditor involvement. As a result,… Read More »
Understanding Your Options When a Customer or Client Files for Bankruptcy Protection
The U.S. Bankruptcy Code provides substantial protections to companies that file under Chapter 7 and Chapter 11. However, these protections are not absolute, and the Bankruptcy Code recognizes that creditors have a legitimate interest in enforcing their right to payment as well. As a result, when a customer or client files for bankruptcy, its… Read More »
Proving a Fraudulent Conveyance in a Business Bankruptcy Case
When a business files for bankruptcy, its creditors have the right to protect their interests by seeking payment through the bankruptcy estate. Under the U.S. Bankruptcy Code, businesses that file for bankruptcy must fully disclose their assets that properly belong in the estate, and they may not transfer assets prior to (or during) the… Read More »