Chapter 11 DIPs, DIP Loans, and Exit Loans

Chapter 11 DIPs, DIP Loans, and Exit Loans Defining debtor in possession: What is Debtor In Possession?“DIP” Retains control and runs thebusiness Chapter 11 allows the business debtor, represented by its owner(s), to retain possession and control of the business’s property/assets and continue running the business while the bankruptcy case is being settled. Debtor In … Read more

How to Develop a Chapter 11 Plan of Reorganization?

How to Develop a Chapter 11 Plan of Reorganization– Part 1: Where to Start ~ An Overview ~ You must prove your business can be profitably reorganized “Developing” a Plan Vs “Preparing the filing” of a Plan There is a big difference between “developing” a Plan of Reorganization and “preparing the filing” of a Plan. … Read more

Must I Hire a Chapter Eleven Bankruptcy Attorney?

In a word … YES! Chapter Eleven Bankruptcy Attorney Requirements Why you really WANT a chapter eleven bankruptcy attorney for your business. As the owner or primary owner, you want the best possible outcome for your business from the bankruptcy. This means you expect all the following results: The court will grant your business immediate … Read more

Business Restructuring and Bankruptcy Case Study

Case Study Willow Lighting & Electrical Supply Company Please note that all names used in this case study are fictional and do NOT in any way, represent any living or deceased person, or any existing or terminated business entity. Eight years ago, Wendy and Ollie formed an LLC to open their designer lighting retail store. … Read more

Downloadable Timeline for Pre-Packaged small business bankruptcy case

Downloadable Chapter 11 Timeline for a Pre-Packaged, Small Business Case Chapter 11 small business bankruptcy cases can be submitted on a “pre-packaged” basis, which means the initial bankruptcy petition filed with the court is accompanied by the Plan of Reorganization AND sufficient ballots from the creditors accepting the Plan.  Typically, the Plan of Reorganization is … Read more

Printable Chapter 11 Timeline – Small Business Case

View or Download a Printable Chapter 11 Small Business Case TimeLine Instructions: Click anywhere on the image above, then print off the timeline. A numbered reference ( ) appears at the end of many of the captions on the timeline. The reference numbers correspond to the Notes below. Notes: (1) The Fair Debt Collection Practices … Read more

How Can I Erase Repossession Automobile Debt?

How Can I Erase Repossession Automobile Debt? Repossession is an extremely negative mark on your credit. No matter what the circumstances that led to repossession, you now have to face the fact it is on your credit report and will prevent you from obtaining new credit and maybe even a new job if the potential … Read more

Voluntary Car Repossession

Why Would Someone Voluntarily Get Their Car Repossessed? There are a number of reasons an individual might voluntarily agree to have their car repossessed. It costs the creditor a great deal of money when they have to look for the car, so when a debtor agrees to voluntarily surrender it, the creditor may look upon … Read more

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