Chapter 11 Bankruptcy
Bankruptcy a possibility for struggling Albuquerque restaurants
The Albuquerque Journal recently covered the bankruptcy filing of Zio’s Italian Kitchen. Zio’s announced that its Albuquerque restaurant will be closing in conjunction with its recent Chapter 11 bankruptcy filing, which occurred less than a month ago. According to the Journal, Texas-based Zio’s cited these reasons for its financial challenges: · Weakness in the casual…
Read MoreCompany announces Chapter 11 filing, looking for buyers
Although not a firm fixture and long-tenured business enterprise across the entire country, Hasting Entertainment Inc. is certainly a well-known commodity in many states, including in New Mexico, where its retail stores selling music, movies, video games and additional merchandise operate in many locales. Reportedly, Hastings and its parent company, Draw Another Circle, are currently…
Read MoreWill Chapter 11 Bankruptcy Help My Business?
So, you’ve explored the alternatives to bankruptcy and they don’t work for you or your business. Now you need to ask yourself, “Will Chapter 11 Bankruptcy Help My business?” First and foremost, it can enable your business to survive in the midst of financial hardships. A chapter 11 bankruptcy filing automatically stays all debt collection…
Read MoreBusiness Bankruptcy: Not always the Best Way to Save Your Business
Many people hit a wall financially and think that bankruptcy is their only option. However, there may be better options instead of a bankruptcy. A good bankruptcy attorney will help you find out what option is best for you. In this article we will explore alternatives to business bankruptcy. Here are some options you may not have…
Read MoreTrustee Exercises Clawback Authority in Kodak Chapter 11 Aftermath
The demise of few companies has so accurately depicted the changing environment caused by the rise of computers, the internet and smartphones as the bankruptcy of the Eastman-Kodak Company (“Kodak”). As a worldwide leader in photography for several decades and employer of hundreds of thousands of employees, Kodak was an icon all over the globe.…
Read MoreFurther Mediation Required in Light Squared’s Chapter 11 Bankruptcy Case
U.S. Bankruptcy Judge Shelley Chapman ordered the parties in the Chapter 11 bankruptcy action concerning LightSquared, Inc. back to mediation after earlier this month rejecting the proposed plan for the company to exit bankruptcy. LightSquared is a wireless-spectrum company controlled primarily by hedge-fund owner, Phillip Falcone. The roadblock that prompted the Judge’s action results…
Read MoreIn Chapter 11 Bankruptcies How Administrative Expenses Aid Reorganization
Generally speaking creditors, whether classified as secured or unsecured creditors, in a Chapter 11 bankruptcy case, expect to be paid only a fraction of what they are owed by the debtor’s estate. But some creditors who provide the company in bankruptcy those services which enable the company to maintain its operations during the course of…
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