Business Bankruptcy

List your executory contracts and unexpired leases on your bankruptcy petition and declare your intention either to accept or to reject those contracts. Contracts that are not timely assumed are rejected and the parties are released from further performance under those contracts. An executory contract is an agreement that has not been completed. A contract […]

Most of our posts here at Bankruptcy Law Network are written from the point of view of someone filing bankruptcy–the debtor’s perspective.  But what if your employer (or former employer) or a company you’ve done business with files bankruptcy, and you are on the receiving end of bankruptcy notices–you are considered a creditor in the […]

Did you ever hear a business owner talking about their Bankruptcy Attorney?  Imagine you are at a cocktail party and you hear a small business owner say:  “I’ve got the best Bankruptcy Attorney in town.”  or ” My Bankruptcy Attorney saved me a fortune.”  This never happens, but it should.  Business owners are too busy […]

There are two types of bankruptcy  that can be used for a business: liquidations and reorganizations. A liquidation bankruptcy is one which eliminates debt; often at the cost of liquidating (selling or transferring) your assets to creditors. A reorganization bankruptcy can stretch out payments to creditors, reduce or eliminate some debts, and “reorganize” or rearrange your […]

What is a Prepackaged Chapter 11 Bankruptcy?

by Nicholas Ortiz, Boston Bankruptcy Attorney

May 23, 2013

In this article I will explain a few basic details about conventional and prepackaged Chapter 11 bankruptcy cases. Conventional bankruptcy: This is usually when a business files bankruptcy in a response to a crisis. However, when a business files bankruptcy without at least some prior negotiation with creditors, no one can really be sure how […]

The Small Business Entrepreneur:  He employes half of all private sector employees, pays 44 percent of total U.S. private payroll, and has generated 65 percent of net new jobs over the past 17 years. The Small Business Administration estimates that in the year 2009 552,600 new small businesses opened for business and 660,900 closed, resulting in an annual […]