October 17, 2017

Reorganizing a Business with Chapter 11 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...]

Reorganizing a Small Business’s Finances

I frequently advise clients who own a small business and find themselves  unable to pay either their personal debts, or those of the company. Some of the company’s debts may be personally guaranteed by the individual owner(s). These clients often want to discuss filing a personal bankruptcy in order to deal with their own debts, and also want to file a bankruptcy for their business in order to … [Read more...]

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...]