Author Archives: Jay Butchko
Chapter 11 Post-Petition Payments to Food Vendors
When a restaurant or bar in the Tampa Bay area files for Chapter 11 bankruptcy, many of its suppliers may worry about whether they will receive payment for goods or services they have already supplied. Most vendors will assume that they will ultimately be repaid as long as they take the necessary steps in… Read More »
Protecting Business LLC Interests in a Personal Chapter 7 Bankruptcy
Business owners in the Tampa Bay area often file for Chapter 7 bankruptcy. In some cases, those business owners have a sole proprietorship, which is a type of business in which company and personal financial assets are linked. In other words, the business is directly tied to the individual, and the individual’s personal debts… Read More »
The HAVEN Act and Veterans Benefits in Bankruptcy
For veterans in Florida who need bankruptcy protection and are considering filing for Chapter 7 bankruptcy, the prospect of passing the “means test” can be complicated and, in some cases quite difficult, given the way in which current bankruptcy law requires courts to consider certain veterans’ benefits as part of a veteran’s income. In… Read More »
Chapter 11 Bankruptcy: Stopping Factoring Companies and Companies with Consent Judgments from Collecting from the Business Bank Account
When a business files for bankruptcy and wants to remain open, it will typically file for Chapter 11 bankruptcy. Chapter 11 bankruptcy is a reorganization type of bankruptcy that allows a company to remain operational while it develops a repayment plan for its debts. If the business meets the terms of the repayment plan—typically… Read More »
Small Business Chapter 11 Cases for Restaurants
What Questions Should You Ask Before You File For Chapter 11 Bankruptcy in Tampa? As many restaurant owners in the Tampa Bay area know, business can be tough at certain times of the year. Given that much of the South Florida economy is based on tourism during the fall, winter, and spring months, the… Read More »
Common Misconceptions About Chapter 7 Bankruptcy
When you have significant debts that you just can’t pay, filing for Chapter 7 bankruptcy might be a good option to help get your financial life back on track. In the Tampa area, consumers with high credit card bills and piling medical debts file for personal bankruptcy everyday. Yet many Floridians have heard myths… Read More »
Changing Attorneys in a Chapter 11 Case
When you are in the middle of a Chapter 11 bankruptcy case in Tampa, Florida, there are a number of different reasons that you may need to change attorneys. In some cases, your attorney makes serious errors that impact your case, resulting in an immediate need to find new counsel. In other situations, the… Read More »
Collecting a Judgment Against a Corporation After Chapter 7 Bankruptcy
Corporations, as well as individuals, can file for Chapter 7 bankruptcy in order to have debts discharged. For both businesses and consumers who file for Chapter 7 bankruptcy, there are certain protections associated with filing for bankruptcy, including the automatic stay, which prevents creditors from continuing to collect on debts as soon as the… Read More »
What Happens if a Small Business Chapter 11 Bankruptcy Has to Get Converted Into a Chapter 7?
Many businesses in the Tampa Bay area, like restaurants and retail establishments, realize that they are having difficulty paying their bills and managing the upkeep of the business. In some cases, a business’s financial problems are seasonal. For example, a restaurant might struggle during the spring and summer months when fewer tourists and part-time… Read More »
SBA Bridge Loans: Risks of Incurring Additional Debt
When a restaurant, hotel or bar owner in the Tampa Bay area is struggling to stay in business due to a downturn, that restaurant or bar owner likely will be looking for short-term financing options, or a bridge loan to help them stay in business until they are able to make sufficient earnings again… Read More »
