How do You Challenge a Debtor's Right to Discharge in Bankruptcy? A commercial bankruptcy proceeding often has a significant impact on the rights of creditors. In a Chapter 7 filing, for example, the debtor business is looking to liquidate, which means most unsecured creditors will get pennies on the dollar for what they are owed. [...]
If the debt burden you are is facing is insurmountable, you may be considering bankruptcy for your small business. This may be the right course of action, especially if your personal assets are at risk. Which type of bankruptcy, Chapter 7 vs. Chapter 11, is right? Chapter 11 Bankruptcy Chapter 11 bankruptcy, sometimes referred to [...]
Many view filing bankruptcy as a hopeless fate to be avoided at all costs. While it is a situation businesses hope to avoid, the word’s negative connotation has bred a number of myths that may keep corporations or partnerships from considering filing bankruptcy as a way to keep their companies afloat. Myth: You’ll Lose Everything [...]
