Tag Archives: Business Bankruptcy Filings
Chapter 11 Bankruptcy: How Attorneys Have to Get Court Approval for Payment of Fees
Chapter 11 bankruptcy is a particular type of reorganization bankruptcy that is used largely by businesses in order to reorganize debt. In some cases, individuals will also file for Chapter 11 bankruptcy if they want to reorganize their debts but do not qualify for Chapter 13 bankruptcy because their secured or unsecured debts exceed… Read More »
Chapter 11 Bankruptcy and Single Asset Real Estate Cases in Tampa
If you own a business in Tampa and are considering Chapter 11 bankruptcy, it is important to learn more about how being a single asset real estate (SARE) debtor could impact your case. In short, if you are a SARE debtor, you may need to pay attention to specific time limits and requirements in… Read More »
Recent Changes to Bankruptcy Law: What You Should Know About the Small Business Reorganization Act
Recent changes to U.S. bankruptcy law make it easier for small businesses and individuals to file for bankruptcy. More specifically, the Small Business Reorganization Act of 2019 (H.R. 3311), as well as the HAVEN Act (H.R. 2938) and the Family Farmer Relief Act of 2019 (H.R. 2336) have been signed into law and took… Read More »
Chapter 7 Bankruptcy on a Small Business: What Will Happen to the Business Equipment?
If you own a small business in the Tampa Bay area and are thinking about filing for Chapter 7 bankruptcy, we understand that you have questions about what will happen to the business property. For instance, if you small business is a restaurant in downtown Tampa and you have a substantial amount of kitchen… Read More »
Chapter 11 for Medical Professions and the Health Care Ombudsman
If you are a health care business in Tampa Bay or are a medical professional who owns your own business in the Tampa Bay area, filing for bankruptcy can be extremely complicated. While businesses typically have the option of filing for Chapter 7 or Chapter 11 bankruptcy depending upon the business’s specific needs and… Read More »
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 »
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 »
Business Lender and Personal Guarantees
When a Business fails, what can happen to the owner? Here are some common questions and answers about personal guarantees on business debt. Question: What are the basics every business owner needs to know about personal guarantees? Answer: Normally when a business owner signs a loan on behalf of its business, the creditor can… 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 »
Will Chapter 11 Bankruptcy Last?
The American Bankruptcy Institute (ABI) recently released a report in which it questioned the staying power of Chapter 11 bankruptcy, according to an article in The New York Times. Should Tampa business owners be concerned about their ability to reorganize their debts by filing for bankruptcy? Proposed Changes to Chapter 11 Bankruptcy Laws The… Read More »
