Chapter 11 May Help Small Businesses Weather Downturn

Since a good percentage of our bankruptcy clients are small business owners, I keep an eye out for articles on financing. This article from  Christian Science Monitor caught my eye because of the contradictory messages about small business lending.  While the federal reserve system is “encouraging” banks to lend to small businesses, banks counter that [...]

Chapter 11 Bankruptcy: Businesses and Individuals

Chapter 11 bankruptcy is a reorganization. More businesses than individuals file for Chapter 11; it is an orderly process that allows the debtor time and space to reorganize its financial affairs and repay its creditors some or all of the debt owed. It is a vehicle through which debtors can reject or cancel certain leases, [...]

Primer for Distressed Homeowners: Part 1 of 3

With the jobless recovery hitting the Charlotte region particularly hard, we’re getting a steady stream of calls asking for help preventing home foreclosures, forced sales and sheriff’s sales, and facilitating short sales.

Lessons from Reader’s Digest

Reader’s Digest just announced that it is filing a prepackaged Chapter 11 bankruptcy case.  Its goal is to reduce its debt to one-fourth of the present level ($2.2 billion).  The company is essentially using Federal bankruptcy law as a financial planning tool. At the present level of debt, Reader’s Digest is not a viable company.  [...]