Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business, each step is fraught with risks. This is especially true given...
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...
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...
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...
On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law by President Trump. In addition to providing emergency assistance and health care responses to those affected by the 2020 coronavirus (COVID-19) pandemic,...
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...
Even if you have have operated your business in the most prudent of manners, it is likely that you still have at best, enough reserve capital to operate your business for three months without bringing in any or very little...
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...
How a Chapter 7 Trustee may settle (or not settle) claims of a Chapter 7 Bankruptcy Debtor A recent case out of a Bankruptcy Court in Massachusetts highlights some important rights and restraints of a Chapter 7 Bankruptcy Trustee. In...
Two Interesting examples of how the internet is destroying business both big and small are the Chapter 11 Petitions filed by Toys R Us and Kabbalah Taxi Inc. The provisions of the Automatic Stay of the Bankruptcy Code, 11 U.S....
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