Articles Tagged with Chapter 11

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

The current Supreme Court, according to many critics, strongly leans in favor of big business, often at the expense of the little guy. Though the Court may have a well-established reputation as being friendly to corporations, a recent ruling proves that this isn’t always the case. In a recent ruling, Czyzewski et al., v. Jevic Holding Corp., the Court voted 6-2 in favor of individuals, rejecting claims by a New Jersey trucking company. To learn more about the bankruptcy case, keep reading.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get credit after filing personal bankruptcy?”

Most consumers never give much thought to the possibility that a store they shop at or a service they use could just up and disappear. We take for granted that established brands will always be around, when the reality is that companies come and go all the time. When a store is sold or changes names, consumers rarely suffer, as debts owed are almost always honored. The same isn’t true in the case of bankruptcy filings, which can leave consumers out money they mistakenly imagined was secure.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

When you think of the world of professional athletes and their net worth, the term “bankruptcy” is probably not one that comes to mind. Between the multi-million dollar salaries and lucrative endorsement deals, it is hard to imagine that someone raking in that kind of dough would be able to spend it all, let alone need to seek bankruptcy protection. So when NHL player Jack Johnson announced that he was filing for bankruptcy in 2014, claiming more than $10 million in debt, it stunned those within the hockey world. The lenders reported that interest from those loans had accrued his total amount owed to $21 million.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a small business bankruptcy ?”

“Retailer’s dream” isn’t a phrase that one usually thinks about when it comes to bankruptcy. However, the surfwear retailer Pacific Sunwear of California Inc. (“PacSun”), who recently filed for Chapter 11 protection, has had its bankruptcy case described by Bloomberg analysts as a “distressed retailer’s dream.”

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

No one thinks bankruptcy is ideal, whether we’re talking on the personal or corporate level. In the case of a commercial bankruptcy, many people wonder what is the best way to go, either Chapter 7 or Chapter 11. Though neither represents the best possible outcome, filing for bankruptcy doesn’t have to be a disaster either and it’s worth weighing your options about which path forward offers the most benefits.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get credit after filing personal bankruptcy?”

If you pay much attention to the news you’ve likely heard about Donald Trump and his past financial problems. Though Trump claims he’s a billionaire many times over, his opponents enjoy pointing out his repeated financial distress. The claim from rivals is that the man has filed for bankruptcy four times before. The argument often made is that because he presided over so many bankruptcies of his own, he shouldn’t be trusted to watch out for the financial security of a country far larger and more complex than any of his businesses.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “How do I file for bankruptcy?”

Once you have committed yourself to filing for bankruptcy in order to take control of your debt, it is one of the first questions you must next face: Where should I file? The question becomes necessarily more complex when a company is looking at filing for Chapter 11 bankruptcy; it is inherently more difficult to determine a particular state of residence for corporations and other business models that have assets and conduct business in multiple states. However, where to file for bankruptcy, known in the legal world as “venue,” is also a common conundrum for individual consumers looking to file for Chapter 7 or Chapter 13 bankruptcy.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

A single mother with two young boys was only briefly able to imagine a future free of her crushing debt burden. Against all odds, the woman won her case before a bankruptcy court in Alabama. This victory, though short-lived, was a big accomplishment given how skeptical bankruptcy courts are when it comes to granting relief for student loan debt. Sadly, the educational lender appealed the decision and a district court reversed, meaning the single mother will again assume responsibility for her six figures in educational debt.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a small business bankruptcy ?”

Bankruptcy is stressful for anyone who has ever contemplated it. This is even more the case for those who own and operate businesses. Small business owners have to worry about how their financial struggles and potential insolvency could impact not only their personal assets and financial wellbeing, but also how it could impact their ability to earn an income in the future. Small business owners have the added burden of being responsible for the welfare of their employees, something that can heighten an already stressful ordeal.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

In what some are saying is the final nail in the coffin for the coal industry, the largest private-sector coal mining company in the world filed for Chapter 11 business reorganization bankruptcy on April 13. The filing, by St. Louis-based Peabody Energy, is but one in a long stream of bankruptcies filed by major coal companies in the United States in the last several years. However, Peabody’s liabilities make it the biggest U.S. corporate bankruptcy this year according to data compiled by Bloomberg. The filing estimates the coal giant’s debt at $10.1 billion.