Monthly Archives: August 2020
The Role of the Trustee in a Chapter 11 Subchapter 5 Small Business Bankruptcy
If your business is struggling to remain afloat, particularly as a result of the COVID-19 pandemic, you may be thinking about your options for a small business bankruptcy. Many restaurants and bars in Tampa Bay have been under immense financial strain, as have other types of retail establishments in the area. If you need… Read More »
In Bankruptcy Because of Seller Fraud in a Purchased Business
All too often we meet clients who moved down to Florida with hopes of being in business for themselves. The story is the same each time. Meet “Bob” from Michigan. Bob worked in the corporate world for 35 years, accumulating a nice 401(k) Upon retirement he and his wife move to Wesley Chapel and… Read More »
Chapter 7 for The Small Business Owner
Chapter 7 Bankruptcy for The Small Business Owner Part One: Why Would a Small Business Need to File A Bankruptcy? A colleague asked me this morning why a small business would need to file a bankruptcy, instead of simply closing down and walking away. Of course the owner might be facing personal guarantees for… Read More »
Chapter 11 Bankruptcies and Commercial Leases in Shopping Centers
Shopping centers in the Tampa Bay area house many different types of businesses, from restaurants and bars to retail establishments. When a business in a Tampa Bay shopping center files for Chapter 11 bankruptcy, there are numerous issues that both the business owner and the commercial landlord will need to consider. While the business… Read More »
Bar/Tavern Chapter 11 Bankruptcy
Anyone who currently owns or is thinking about opening a bar or tavern in the Tampa Bay area knows just how popular these establishments are with residents and visitors alike. For example, a list on TripAdvisor shows that bars, taverns, and pubs such as Coppertail Brewing Company, World of Beer, Clooney’s Wine Bar, and… Read More »
Exceptions to the Chapter 7 Means Test for Non-Consumer Debt
When you are planning to file for bankruptcy as a result of your business debts, there are many issues you will need to consider. For instance, what type of business structure do you have, and will bankruptcy result in you filing for personal bankruptcy in addition to filing on behalf of your business? When… Read More »
Subchapter V of Chapter 11 for Small Business Debtors
Small business debtors in the Tampa Bay area that are planning to file for Chapter 11 bankruptcy should know that they can now elect to file for bankruptcy under Subchapter V of the U.S. Bankruptcy Code. This change occurred through the passage of H.R. 3311, also known as the Small Business Reorganization Act of… Read More »
Chapter 7 Bad Faith Filing and Criminal Fraud
When you file for Chapter 7 bankruptcy as an individual or as a business entity, you are expected to file for bankruptcy in good faith. In other words, whether you are filing for Chapter 7 bankruptcy as a sole proprietor or as a larger business like an LLC or a corporation, the U.S. Bankruptcy… Read More »
Chapter 11 Bankruptcies and Commercial Leases in Shopping Centers
Shopping centers in the Tampa Bay area house many different types of businesses, from restaurants and bars to retail establishments. When a business in a Tampa Bay shopping center files for Chapter 11 bankruptcy, there are numerous issues that both the business owner and the commercial landlord will need to consider. While the business… Read More »
