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Chapter 11 Archives

Bankruptcy can allow Florida businesses time to plan

Bankruptcy can allow business owners the opportunity to reorganize their operations and emerge with a stronger plan and brighter future. That may be the hope of a custom homebuilder whose eight companies filed for Chapter 11 bankruptcy protection in 2015 in an effort to avoid foreclosure of certain assets.

Children's technology company files for Chapter 11 protection

Children are increasingly tech savvy. Adept at navigating smart phones and tablets, some parents may be amazed by how quickly children catch on to new technology. Florida parents may be interested to learn that a technology company that produces products specifically for children has recently filed for bankruptcy protection, despite the popularity of their products.

Bankruptcy courts offer unique framework for debt relief

Bankruptcy courts differ in their scope and operation from traditional courts that oversee criminal and civil matters. Federal bankruptcy courts offer unique opportunities for both individual debtors and businesses to begin again in the financial sense when they are faced with overwhelming debt.

Do I have secured or unsecured debt?

It can be an advantage for a Floridian facing financial challenges, whether as an individual or a business owner, to be knowledgeable about the character of his or her debt, and in particular, whether the debts are secured debts or unsecured debts. Secured debts and unsecured debts will often receive different treatment in a bankruptcy proceeding.

Familiar name in the music industry files for bankruptcy

The music industry thrives on change. From new sounds of Elvis in the 1950's to grunge music in the 1990's, innovation and change are constant aspects of the music business. Recently there have also been major changes for a music supplier who has filed for Chapter 11 bankruptcy.

Home auction ordered after David Cassidy's bankruptcy filing

Bankruptcy can be a trying time for any Florida resident. It means a reorganization of debts and often a reduction of one's assets. David Cassidy, famously known for starring in the television show "The Partridge Family," and subsequently garnering teen idol status as a pop music star in the 1970s, is facing the upcoming auction of his Florida home in September following a bankruptcy filing.

Will I be able to convert my Florida Chapter 11 bankruptcy?

Chapter 11 bankruptcy in Florida may offer a welcome opportunity for a struggling Florida business to reorganize its debt and come up with a new payment plan. How does a business know that Chapter 11 is the right choice? What if Chapter 11 seems like the right choice, but upon further developments, Chapter 7 bankruptcy appears to be a better option? Fortunately, a debtor who has filed for Chapter 11 bankruptcy has a one-time right to convert the bankruptcy case to a Chapter 7 bankruptcy. Knowing that this opportunity is available may help ease the minds of some business owners.

Tomato grower in Florida opts to file for Chapter 11

In business, sometimes things do not go as planned. Like in life, there are ebbs and flows in the business world that just happen no matter what. When the business is making money and things are good, bankruptcy is of course the furthest thing from a business owner's mind. With that being said however, there is no way of telling when business might go sour and things just fall apart financially.

Why would a business choose to file for Chapter 11?

As many of us recognize, bankruptcy is a way to relieve consumers and businesses of seemingly insurmountable debt. With that being said, there are a number of options when filing for bankruptcy. Depending on what you are looking to accomplish with your bankruptcy filing, this will determine and dictate the filing that you choose. The same thing goes for businesses that want to file for bankruptcy. Similar to an individual filing, when a corporation files for bankruptcy it is done because there is a need for financial assistance. The type of filing chosen will either keep the business together and running under a reorganization plan, dissolve the business or provide federal protections so that the business can stay afloat and maintain itself as a business. The latter is known as a Chapter 11.