Articles Tagged with Iredell

Published on:

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

The popular children’s toy store, Toys R Us has decided to close all of its United States store and liquidize assets after failing to survive the bankruptcy it filed last year. In 2017, Toys R Us filed a Chapter 11 bankruptcy in an effort to get a handle on almost $5 billion in debt. The company filed for Chapter 11 in September of 2017. The holiday shopping season was not as successful for Toys R Us as the company would have hoped, and they were unable to follow their debt plan and survive bankruptcy. As such, the company switched their bankruptcy to a Chapter 7 liquidation option instead, according to USA Today.

Published on:

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

A Chapter 7 bankruptcy that was filed in 2003 has finally ended 15 years later. The Great Northern Paper Co. filed for Chapter 7 bankruptcy in 2003 and Chief Judge Peter Cary of the United States Bankruptcy Court for the District of Maine has ordered that the proceeding be closed within 30 days, according to Bangor Daily News. The trustee submitted a certification that the assets of the estate were accounted for and requested that the court discharge the company from other debts and duties.

Published on:

Bankruptcy Lawyer Bryan W. Stone answers the question: “Are my 401k and IRA protected in bankruptcy?”

Normally, arbitration comes up in the context of personal injury cases. A good example is one of the most common instances of arbitration language, which is in nursing home admittance paperwork. The nursing homes include language requiring arbitration, which shields the nursing home from the public, lengthy, expensive and uncertain courtroom litigation process and instead allows them much greater control by requiring all potential plaintiffs to bring their disputes before an arbitrator. This has come under attack in recent years, as many argue that arbitration clauses, especially arbitration clauses that restrict consumers, are unfair.