Board Certified Specialist in Bankruptcy
My typical Chapter 11 client is a small to mid-sized, closely held and viable business with cash flow problems. The business offers either goods or services that are in demand,but needs to be reorganized in an orderly manner instead of haphazardly responding to creditor demands. The source of the financial problems varies; common problems include the decline of the housing market, growth and … [Read more...]
While most people have some familiarity with the concept of bankruptcy under federal law, many people are unaware of the concept of receivership under North Carolina law. What is receivership? A federal bankruptcy judge oversees the bankruptcy case, with the help of the Bankruptcy Administrator. In a receivership, the North Carolina court appoints a receiver who is an officer of the court … [Read more...]
The word"bankruptcy" is heard everywhere, from coffee shops to church bazaars and the evening news. It's clear to me that, despite this general knowledge of bankruptcy, few people understand what it means to file for protection under Chapter 7, Chapter 11 or Chapter 13. Chapter 7 is a liquidating bankruptcy. It is normally utilized to obtain a “fresh start” for an individual … [Read more...]
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 … [Read more...]