September 24, 2017

Small Business Bankruptcy Basics

My friend and fellow bankruptcy attorney Susanne Robicsek and I recently spoke to a group of local small business owners gathered at Central Piedmont Community College in Charlotte, North Carolina. In this tough economy business owners are wise to acquaint themselves with the legal options they may need to employ if their companies hit the shoals.  It was a pleasure spending an afternoon trying to … [Read more...]

Moving Through the Python, Bankruptcy Cycles

Yesterday's Charlotte Observer article (wherein I'm quoted) explains why we're only seeing the front end of the bankruptcy python for real estate developers, small businesses and individuals.  While the Western District of North Carolina has seen more bankruptcy filings in eight months of this year than in all of 2008, most experts expect filings to increase through 2010 and pass all previous … [Read more...]

I don’t want to file, but should I?

Some people are not good candidates for bankruptcy, including: Those with too many non-exempt assets; for them, we develop asset planning & protection strategies Those who cannot afford to file bankruptcy Those with no income or who have so few non-exempt assets that they are essentially “judgment proof” Those with finances so complicated by trusts and tax shelters … [Read more...]

Bankruptcy and Families

In a study published in the Harvard Law and Policy Review the global financial crisis and the specific effect on real estate, is putting different stresses on families in bankruptcy than in times past. Broken inter-generational safety nets "Specifically, when young adults experience financial struggles, they often rely on their parents for help because parents usually have more assets and fewer … [Read more...]