Bankruptcy Content Category- Credit-Yogi.com
Chapter 11 Plan of Reorganization – Part 2 Step-By-Step Guide Develop a plan to reorganize your business before you create the Plan of Reorganization This article assumes you have already read Chapter 11 Plan of Reorganization – Part 1 Where to Start. And, in case, if you haven’t read it yet, we encourage you to do so … Read more
Your business creates a new legal entity, a “Debtor-in-Possession (DIP),” the moment it files a petition for Chapter 11 bankruptcy. This allows the owner(s) of the business to continue running the business during the bankruptcy proceeding. And it permits access to special loans to meet the liquidity needs of the business. What is a Debtor-in-Possession … Read more
How to Develop a Chapter 11 Plan of Reorganization– Part 1: Where to Start ~ An Overview ~ You Must Prove That Your Business Reorganized Profitably “Developing” a Plan Vs “Preparing the filing” of a chapter 11 reorganization Plan To develop chapter 11 reorganization plan, it is essential to know where to start. There is … Read more
In a word … YES! Chapter Eleven Bankruptcy Attorney Requirements Why do 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 bankruptcy. Getting the results you want … This means you expect all the following results: The … Read more
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
Download your Chapter 11 Timeline – Subchapter V Case Example A printable timeline is a great way to visualize the steps involved in a chapter 11 sub chapter V business bankruptcy case. This is especially helpful for individuals who are entering into the chapter 11 process for the first time. By using a printable chapter … Read more
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. This means the initial bankruptcy petition (filed with the court), is accompanied by the plan of reorganization and enough ballots from creditors accepting the plan. Typically, the reorganization plan will be filed after it has been approved by the board. A few weeks … Read more
View or Download a Printable Chapter 11 Small Business Case TimeLine This printable Chapter 11 timeline for small businesses is designed to help you visualize the entire process. It will give you a better idea of how long it takes and the costs from your initial bankruptcy filing to closing on your Chapter 11 Timeline … Read more
What is the automatic stay? The automatic stay protects a debtor who files for bankruptcy from further collections efforts by creditors. Once the creditor has received notification the debtor has filed bankruptcy, all collection activity must cease including pending foreclosure, repossession, or wage garnishment. When does an automatic stay take effect? The automatic stay takes … Read more
Do you worry about how bankruptcy affects retirement assets? Some assets are exempt from the terms of bankruptcy—they cannot be sold to satisfy creditors. Your retirement funds fall into this category and are safe from seizure by creditors and the bankruptcy court. How Does Bankruptcy Affect My Pension Benefits? In 2005 Congress overhauled the bankruptcy … Read more
