1. Once you decide that a business bankruptcy is the appropriate remedy for your failing business, you must prepare a corporate resolution. 2. The bankruptcy petition is then prepared listing all of the assets and liabilities. 3. The business is closed. Employees are terminated, paid their final...
The L.A. Dodgers baseball franchise filed for bankruptcy protection today. After a search, I think this is the only place on the "free internet" that the Los Angeles Dodgers' Bankruptcy Petition can be viewed in its entirety....
(And One Good Reason Why You Should) Do you have a business that is in a corporation? Is it failing and you think you need to file a bankruptcy case to get rid of the business debts? Don't! Why shouldn't you file a bankruptcy for a corporation?...
My clients had owned a small company for 40 years. They had amassed a half-dozen properties, owned a very valuable home, an expensive recreational vehicle, and of course, a big party boat. But when their company began to falter due to the economy, the owners...
Bankruptcy is not just for individuals. Companies can file for bankruptcy too, but they sometimes file a Chapter 11 reorganization, to help them deal with their debts and stay in business. Harry and David fileda Chapter 11bankruptcy. The company famous for Oregold Peaches (9 for about...
As has been often explained, Chapter 7 Debtors with primarily business debt, or otherwise not primarily consumer debt, are not subject to the "means test" adopted in the 2005 bankruptcy reform act.In fact, they are not subject to any of the provisions of the Bankruptcy...