Understanding Your Plan of Reorganization for a Chapter 11 Bankruptcy

Chapter 11 bankruptcy, also known as "reorganization bankruptcy," is a bankruptcy plan that allows corporations, partnerships and individuals to reorganize their finances and restructure their debt. Unlike Chapter 13 bankruptcy cases, Chapter 11 bankruptcy has no debt ceiling. This plan is popular with both large and small businesses that need to restructure their debt. The [...]

By | 2017-12-14T07:03:33+00:00 August 7th, 2017|Bankruptcy, Chapter 11 Bankruptcy|Comments Off on Understanding Your Plan of Reorganization for a Chapter 11 Bankruptcy

Deciding to File a Personal Bankruptcy as a Business Owner

With the economy still struggling to bounce back, many people have decided to start their own business when they were unable to gain employment. Having an entrepreneurial attitude during an economic downturn can be beneficial with proper planning. Yet, even self-employed individuals and those with a business run into financial problems and wonder if bankruptcy [...]

By | 2017-12-13T00:58:37+00:00 January 31st, 2014|Chapter 11 Bankruptcy|Comments Off on Deciding to File a Personal Bankruptcy as a Business Owner

Chapter 11 Bankruptcy Repayment Plan Must Meet Trustee Standards

In the Chapter 11 bankruptcy case, In re Charles R. Livecchi, Sr., the pro se debtor was forced into a Chapter 7 bankruptcy after he failed to present a realistic and repayment plan. On April 8, 2009, Appellant filed a voluntary Chapter 11 bankruptcy petition. On January 21, 2010, the United States Trustee filed a [...]

By | 2017-12-13T03:28:26+00:00 November 25th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Managing Your Finances|Comments Off on Chapter 11 Bankruptcy Repayment Plan Must Meet Trustee Standards

Texas Rangers Chapter 11 Bankruptcy Filing Reveals Lavish Spending And Bidding War

According to Texas Rangers' Chapter 11 bankruptcy filing, the MLB baseball team spent lavishly on its employees before the team was forced into bankruptcy when Tom Hicks' Hicks Sports Group defaulted on $524 million in loans. Each of the Texas Rangers' 320 full-time employees gets 120 game ticket vouchers a season. Twenty-two thousand Lexus vehicles [...]

By | 2017-12-13T03:50:37+00:00 June 19th, 2010|Bankruptcy, Chapter 11 Bankruptcy|Comments Off on Texas Rangers Chapter 11 Bankruptcy Filing Reveals Lavish Spending And Bidding War

The Absolute Priority Rule And Individual Chapter 11 Bankruptcy Debtors

Before 2005 Bankruptcy reform, individuals filing Chapter 11 bankruptcy were subject to a rule known as the Absolute Priority Rule which stated that all debtors filing Chapter 11 bankruptcy have to repay all of their debts in full. Specifically, if the shareholders are going to retain any interest in the reorganized company, then they must [...]

By | 2017-12-13T03:50:46+00:00 June 18th, 2010|Bankruptcy, Chapter 11 Bankruptcy|Comments Off on The Absolute Priority Rule And Individual Chapter 11 Bankruptcy Debtors

When Chapter 11 Bankruptcy May Be Better For Investment Property Owners

While many individual debtors opt for Chapter 11 bankruptcy only when they have exceeded the debt limits imposed on Chapter 13 bankruptcy debtors, there are situations when filing Chapter 11 bankruptcy may be beneficial even if the debtor is well within the debt limits of Chapter 13 bankruptcy. Below are a few reasons why a [...]

By | 2017-12-13T03:51:02+00:00 June 18th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Loans / Mortgages, Managing Your Finances|Comments Off on When Chapter 11 Bankruptcy May Be Better For Investment Property Owners

Furniture Factory Warehouse Files Chapter 11 Bankruptcy – Customers Empty Handed

Home furnishings retailer Furniture Factory Warehouse, which operates 12 stores in South Texas, has filed for Chapter 11 Bankruptcy protection due to unfavorable financial conditions and a consistent decline in furniture sales. The retailer has closed all of its stores and distribution facilities pending the bankruptcy court's approval of Furniture Factory Warehouse's "Bankruptcy Going Out [...]

By | 2017-12-13T03:52:12+00:00 June 16th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy, Lawsuits, Managing Your Finances|Comments Off on Furniture Factory Warehouse Files Chapter 11 Bankruptcy – Customers Empty Handed

General Growth Properties Get Bankruptcy Approval On Final Secured Loan Restructuring

General Growth Properties Inc., which filed the largest bankruptcy in U.S. history, has finished restructuring its $15 billion secured-debt load, clearing yet another obstacle from its path as it attempts to exit Chapter 11 bankruptcy. Bankruptcy Judge Allan Gropper in Manhattan today approved a restructuring agreement on a $95 million loan tied to a Louisiana [...]

By | 2017-12-13T03:52:22+00:00 June 15th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on General Growth Properties Get Bankruptcy Approval On Final Secured Loan Restructuring

Texas Rangers Bankruptcy Judge: “This is like one of those baseball movies…”

If you thought the Texas Rangers bankruptcy drama had ended, it seems that it is just getting started.  Most recently bankruptcy judge Michael Lynn quipped that "This is like one of those baseball movies where the players get stranded," after convincing Chase to keep the baseball team's credit card active while they played in Kansas [...]

By | 2017-12-13T03:52:30+00:00 June 15th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy, Lawsuits|Comments Off on Texas Rangers Bankruptcy Judge: “This is like one of those baseball movies…”

Bankruptcy Bidding War: Major League Baseball Stands Out As The Winner

Bankruptcy Judge Michael Lynn said he had never before seen a fight over who would provide Chapter 11 bankruptcy financing for a bankruptcy company because securing such financing is usually an uphill battle. But this is the exact type of drama that broke out when senior creditors of the Texas Rangers offered to loan the [...]

By | 2017-12-13T03:52:38+00:00 June 15th, 2010|Bankruptcy, Chapter 11 Bankruptcy, Economy|Comments Off on Bankruptcy Bidding War: Major League Baseball Stands Out As The Winner