One of the benefits of Chapter 11 for a Pennsylvania business is that the company generally can continue operating during the bankruptcy proceedings. During that time, it can attempt to devise a plan to restructure its debt and reorganize the company's financial and...
Month: May 2015
Chapter 11 reopened on creditor’s claim of hidden real estate
When a company is in bankruptcy in Pennsylvania or any other jurisdiction, the debtor company must reveal the existence of all assets, including all real estate owned. The company cannot simply sell real estate or other assets without court approval. In one Chapter 11...