WeWork: Working Itself Through Bankruptcy
WeWork: Working Itself Through Bankruptcy

WeWork, a coworking space company, filed for Chapter 11 bankruptcy on November 6, 2023 and is being represented by King & Spalding. This filing marked a significant step in the company’s efforts to restructure its debt and operations amidst ongoing...

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The Road to Red Lobster’s Bankruptcy
The Road to Red Lobster’s Bankruptcy

Recently, Red Lobster has filed for Chapter 11 Bankruptcy and it's path to this filing is shaped by a combination of strategic missteps and external economic pressures. The seafood chain has grappled with several key issues which pushed them to...

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Effects of Filing for Bankruptcy
Effects of Filing for Bankruptcy

Filing for bankruptcy is a significant financial decision that can have some lasting effects for individuals and businesses.  Even with these effects in mind, the relief that bankruptcy offers from overwhelming debt that may be worth the temporary repercussions of...

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Benefits of a Chapter 13 Bankruptcy- Part
Benefits of a Chapter 13 Bankruptcy- Part

The Distinction Between Chapter 13 and Chapter 7 Bankruptcy At the heart of Chapter 13 bankruptcy is the opportunity for debtors to keep their assets, most notably their homes. This is in stark contrast to Chapter 7, where liquidation of...

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New Median Income Requirements in New Jersey for 2024
New Median Income Requirements in New Jersey for 2024

Periodically the New Jersey' Department of Labor and Workforce Development (NJDOL) will update the median income figures for the various household sizes reported on a person’s tax returns. NJDOL has recently provided the new median income figures which go into...

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How Party City Entered and Emerged From Bankruptcy
How Party City Entered and Emerged From Bankruptcy

In recent years, some of our fellow New Jersey businesses have filed a Chapter 11 bankruptcy only  to convert to a Chapter 7 in order to liquidate. Popular retailer Party City managed to avoid this trend in 2023 by concluding...

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What is the Difference Between Chapter 13 and Chapter 7 Bankruptcy?
What is the Difference Between Chapter 13 and Chapter 7 Bankruptcy?

A Chapter 13 bankruptcy involves a reorganization of your existing debt and a Chapter 7 bankruptcy is a liquidation of assets. In order to be eligible for a Chapter 7 filing, you must be below the median income level for...

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Illinois Man Pleads Guilty to Misapplication of Funds and False Bankruptcy Statements
Illinois Man Pleads Guilty to Misapplication of Funds and False Bankruptcy Statements

Lekevie C. Johnson, a former Champaign, IL pastor, pleaded guilty on December 1st to federal program misapplication, student loan misapplication, and false statement in bankruptcy. Johnson operated a not-for-profit corporation that received federal grant funds from the United States Department...

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Defendants Convicted of Bankruptcy Fraud in Massive Foreclosure Scam
Defendants Convicted of Bankruptcy Fraud in Massive Foreclosure Scam

A Cincinnati jury found a Hamilton, OH man and a Brooklyn, NY woman guilty of multiple crimes, including bankruptcy fraud, in relation to a foreclosure scam that affected more than 750 homeowners across the country. 66-year-old Lorin Kal Buckner and...

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Alex Jones Files for Bankruptcy After Massive Civil Verdict
Alex Jones Files for Bankruptcy After Massive Civil Verdict

Alex Jones, a radio show host and conspiracy theorist, recently filed for bankruptcy. In 2012, after the tragic shooting at Sandy Hook Elementary, Jones began to spread his conspiracy theory that the government had planned this massacre, that no one...

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