Chapter 11

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…

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…

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…

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…

When businesses get stuck in debt that they cannot repay, the repercussions can be devastating to a whole community. The purpose behind Chapter 11 bankruptcy protection is not just to protect the business owners but it also helps to protect the entire…

Sometimes Long Island businesses just need a break so they can stop and recharge their batteries. Chapter 11 business bankruptcy is a way of doing just that. Recently, the electric car maker Coda announced that it had filed for Chapter 11 protection…

The medical profession, one might think, is recession-proof. After all, there are always sick people, whether the economy is good or bad. But, in fact, the sluggish economy has taken a toll on doctor’s offices in New York and across…

A commercial bankruptcy has different financial implications than an individual bankruptcy. However, creditors in a business bankruptcy may still seek out personal assets when they back business debts. The following Chapter 11 bankruptcy illustrates how a business may be forced into bankruptcy,…

Realizing a business venture is on the brink of possible failure can be a sobering event. Business owners in this situation often need to make difficult decisions about the future of their companies. Chapter 11 bankruptcy may be an unfortunate, but necessary,…

A commercial bankruptcy has different financial implications than a personal bankruptcy, although a business owner may support business debts with personal assets. Business owners often declare a business bankruptcy with a Chapter 11 filing. Readers in Long Island may want to learn…