Why Bed Bath & Beyond Filed for Bankruptcy
Why Bed Bath & Beyond Filed for Bankruptcy

The growth of online sales has steadily driven numerous brick-and-mortar retailers out of business or into bankruptcy. As a New Jersey firm focused on bankruptcy law, we pay careful attention when large companies based in our state face these difficulties....

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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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Sub-Chapter V Small Business Debtors and Confirmation of A Plan of Reorganization
Sub-Chapter V Small Business Debtors and Confirmation of A Plan of Reorganization

The goals of Sub-chapter V are to minimize the time and expense of small business reorganization. status conference Within 60 days of the filing, the bankruptcy court is expected to hold a status conference “to further the expeditious and economical...

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Sub-Chapter V: Makes It Easier For Small Businesses to Reorganize
Sub-Chapter V: Makes It Easier For Small Businesses to Reorganize

ELIGIBILITY FOR SUB-CHAPTER V ELECTION Sub-chapter V election by a small business requires that the debtor have non-contingent, liquidated debts (secured and unsecured) totally not more than $2,725,625..00 (presently for small business election under Chapter 11 the debt limit is...

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SUB-CHAPTER V: SMALL BUSINESS DEBTOR REORGANIZATION
SUB-CHAPTER V: SMALL BUSINESS DEBTOR REORGANIZATION

Sub-Chapter V of Chapter 11 of the United States Bankruptcy Code was signed into law in August 2019 and took effect in February 2020. The intent of the change to the Bankruptcy Code was to provide a more streamlined, less...

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Coronavirus Stimulus Package: Will It Be Enough To Save Small Businesses
Coronavirus Stimulus Package: Will It Be Enough To Save Small Businesses

The Coronavirus outbreak has caused the unprecedented shutdown of businesses by the government. While this may be necessary to control the spread of the virus, the shutdown is having a devastating effect on businesses throughout the country. With New Jersey...

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Supreme Court Rules on Bankruptcy Case Involving Automatic Stay
Supreme Court Rules on Bankruptcy Case Involving Automatic Stay

In Ritzen Group, Inc. v. Jackson Masonry, , 589 U.S. ___ (2020), the United States Supreme Court unanimously ruled that where a creditor seeks "relief" from the "automatic stay" in a bankruptcy case and is denied that relief, the creditor...

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Bankruptcy News: Phone Scammers Targeting Bankruptcy Filers
Bankruptcy News: Phone Scammers Targeting Bankruptcy Filers

Phone scamming from public information is becoming more and more prevalent with the access to information through online resources.   We have seen firsthand the impact of phone scams involving the IRS and other debt collection matters. Now, a recent scam...

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Supreme Court Agrees to Hear Bankruptcy Cases on Chapter 7 Junior Mortgage Stripping
Supreme Court Agrees to Hear Bankruptcy Cases on Chapter 7 Junior Mortgage Stripping

The United States Supreme Court has announced, by granting certiorari in two cases from the 11th Circuit, that it will decide an ongoing issue of whether a Debtor in a Chapter 7 Bankruptcy Case may strip off a junior lien...

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Bankruptcy Court Increase in Filing Fees Effective June 1, 2014
Bankruptcy Court Increase in Filing Fees Effective June 1, 2014

The Judicial Conference of the United States Courts approved amendments to the fees applicable in New Jersey and all Bankruptcy Court cases.   The increases below go into effect June 1, 2014. FILING FEES FOR BANKRUPTCY PETITIONS: Chapter 7 Petition...

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