Recent Blog Posts

BankrLaw2

Closing a Restaurant in Tampa Bay

By Samantha L. Dammer, Esq. |

Closing a Restaurant or Bar in Tampa Bay? The COVID-19 virus has wreaked financial havoc for bars and restaurants in Tampa.   In March of 2020, the Governor ordered all bars to be closed temporarily, and restaurants can only provide take-out services.  Many business owners are deciding to close down completely.  This is of… Read More »

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Collecting a Judgment Against a Corporation After Chapter 7 Bankruptcy

By Samantha L. Dammer, Esq. |

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 »

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What Happens if a Small Business Chapter 11 Bankruptcy Has to Get Converted Into a Chapter 7?

By Samantha L. Dammer, Esq. |

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 »

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SBA Bridge Loans: Risks of Incurring Additional Debt

By Samantha L. Dammer, Esq. |

When a restaurant 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 and… Read More »

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Debtor-in-Possession Bank Accounts and Rules: What Happens When You File a Chapter 11 for a Small Business?

By Samantha L. Dammer, Esq. |

What happens when a small business in the Tampa Bay area files for Chapter 11 bankruptcy?  Let’s look in particular at the requirement for the business owner to open debtor-in-possession bank account. What rules does the debtor have to follow? In order to understand the answers to these questions, it is important to learn… Read More »

Shopping Mall Bankruptcy

By Samantha L. Dammer, Esq. |

Insolvent Businesses and Bankruptcy Auctions When a business becomes insolvent, it’s unlikely that a bankruptcy court will approve a Chapter 11 reorganization. To be sure, it’s pretty difficult for such a business to prove that it might be able to repay any debts. And that’s exactly what happened recently in Plantation, Florida. According to… Read More »

LiquorLic

Tampa/Florida Chapter 7 Bankruptcy and What Happens to Liquor Licenses

By Samantha L. Dammer, Esq. |

Many bars and restaurants that open in Tampa end up having significant financial difficulties, and many end up realizing that they have more debts than they can adequately manage. In some cases, restaurants and bars may be able to reorganize their debts through Chapter 11 bankruptcy, which also allows the business to keep its… Read More »

BankFile

Changing Attorneys in the Middle of a Chapter 11 Bankruptcy

By Samantha L. Dammer, Esq. |

Sometimes when businesses in the Tampa Bay area consider filing for Chapter 11 bankruptcy, they quickly choose an attorney and begin the process of the reorganization bankruptcy. While some bankruptcy cases can work out for the small business filing for Chapter 11 even if that business does not have the best lawyer handling the… Read More »

Chapter 11 avoid commercial lease default eviction

Commercial Leases in Chapter 11 Bankruptcy

By Samantha L. Dammer, Esq. |

Filing for bankruptcy in Tampa Bay is a stressful process for any business owner. Generally speaking, business owners file for one of two different types of bankruptcy: Chapter 7 or Chapter 11. In a Chapter 7 bankruptcy, the business owner does not have any real options for keeping the business open since this is… Read More »

In Bankruptcy Because of Seller Fraud in a Purchased Business

By Samantha L. Dammer, Esq. |

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 »