News & Updates

BEING A CREDITOR IN A BANKRUPTCY CASE

These are unprecedented times. While virtually nothing is certain, one thing that most people agree on is that there will be a wave of bankruptcies. What should you do if a company you deal with files? Here are a few things to know. The Automatic Stay – As soon as a company files for bankruptcy […]

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AVOIDING (BUT PLANNING FOR) BANKRUPTCY 101 IN THE AGE OF COVID-19

No small business wants to file for bankruptcy. Even though a chapter 11 filing allows for reorganization, not having to file is the preferred course. What about in the age of Covid-19? While the current state of affairs, as well as the new Small Business Reorganization Act, makes a chapter 11 a better option, good […]

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WHAT SMALL BUSINESSES CAN LEARN FROM LARGE BUSINESSES

Since the nationwide shutdown, many people have been waiting for an avalanche of bankruptcy filings under Chapter 11. As of the writing of this article, there have only been a few notable filings, such as the XFL, Frontier Communications and True Religion. While there has been a lot of anticipation about filings by large retailers, […]

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THOUGHTS AS TO WHAT YOU CAN BE DOING DURING THE SHUTDOWN

We all find ourselves in a similar place with our businesses. Best case scenario is your business is able to continue operating relatively normally (while you are home). More likely is you are able to operate, but at a reduced level. There is also a possibility that you have stopped operating. What should you be […]

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THE NEW SMALL BUSINESS BANKRUPTCY LAW—HIGHER DEBT LIMITS

Under the CARES Act, the debt limit to qualify to be a debtor under the new small bankruptcy law has been increased to $7,500,000 for the next year, up from $2,725,625. The new law (known either as the “SBRA” or “Subchapter 5”) is a way for small businesses to go through reorganization in chapter 11 […]

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