When your business is in financial distress, Chapter 11 bankruptcy may be your best option. But it’s a complicated process with many variables, restrictions and decisions which need to be made. Cash collateral is a potential option many businesses will choose, so it’s...
Chapter 11
Small businesses may have additional bankruptcy options
In 2020 and 2021, many small businesses in Long Island were forced to close their doors. Some of these business owners who have realized that they can no longer operate their business may consider filing for Chapter 11 bankruptcy. If so, they may want to learn more...
What is the Chapter 11 bankruptcy process?
Chapter 11 bankruptcy is a resource that it is essential for struggling businesses to be familiar with. It can help get them out of the financial challenges they are facing and enjoy a profitable future. The Chapter 11 bankruptcy process Chapter 11 bankruptcy is a...
Benefits of Chapter 11 bankruptcy for struggling businesses
Struggling businesses may wonder where they can turn to help get their struggling business enjoy a profitable future once again. Chapter 11 bankruptcy is a resource that can offer potential benefits to struggling businesses that wish to remain in benefits. Benefits of...
Chapter 11 bankruptcy basics
Chapter 11 bankruptcy can help struggling businesses that wish to remain in business. It is a reorganization bankruptcy option for businesses that are facing financial challenges to consider. Eligibility for Chapter 11 bankruptcy Both small and large businesses are...
Bankruptcy Code gives some breaks for small businesses
Small business is fighting a tough battle against the economic consequences brought by the pandemic. But four recent amendments to the Bankruptcy Code may help small businesses which are filing a Chapter 11 bankruptcy. Paycheck protection program The Paycheck...
How to start a Chapter 11 bankruptcy case
There are many different businesses in New York and they provide many different products and services to people. In order to run these various businesses the owners often times have various expenses associated with the business. The expenses can include rent,...
Misconceptions with a Chapter 11 bankruptcy filing
In a time of many unknowns, businesses in New York and elsewhere are making major business decisions to ensure the longevity of their businesses is protected. Unfortunately, when difficult financial times are occurring, not all businesses can stay afloat or remain...
Century 21 files for Chapter 11 and closes 13 remaining stores
As any New Yorker can attest, the pandemic has impacted individuals and businesses in a variety of ways. While some may have experienced little to no impact when it comes to finances, many small business owners and major companies have experienced just the opposite....
Chapter 11 bankruptcy is not the end for small businesses
When a big national or international business files for Chapter 11 bankruptcy, it usually makes headlines. However, most of the time, the company stays in business during and after bankruptcy. The same is true for many smaller businesses on Long Island. Chapter 11...