In Pennsylvania and other states, a crippling money judgment against a company may result in the company deciding to file bankruptcy. In some instances, that may be done to delay the execution of the judgment pending appeal, and to allow for possible reorganization of...
Year: 2015
Consumer bankruptcy survives worn-out, unsupportable myths
Although bankruptcy is authorized by federal law, certain myths associated with this legal remedy continue to persist. The myths serve to perpetuate a negative stigma about bankruptcy in Pennsylvania and throughout the country; however, they are not based in...
Venerable theater complex files Chapter 7 and closes doors
Every once in a while, the filing of a Chapter 7 bankruptcy in Pennsylvania or another state marks the end of life for a cherished local tradition. It may be an ancient landmark connoting a significant historical event. It could be an old hotel that catered to the...
The source of medical debt and bankruptcy statistics
Most Pennsylvania residents are aware that one of the leading causes of personal bankruptcy is the medical debt that follows a significant illness or injury. However, few understand just how the statistics supporting this claim are gathered. A recent article takes a...
Chapter 11 bankruptcy filed by tech-challenged SkyMall magazine
All types of businesses, including in Pennsylvania, have taken advantage of the federal bankruptcy laws to reorganize their affairs and attempt to stay in business with a streamlined new business approach. The legal vehicle for that attempt is a Chapter 11 bankruptcy...
The true facts of bankruptcy make it an option to consider
For Pennsylvania consumers who listed financial survival and economic improvement as a New Year's resolution, consideration of bankruptcy may possibly be timely. Any discussion of the topic usually first contends with its sinister image. However, when someone begins...