As a Pennsylvania business owner, you have probably been concerned over last few years as giants toppled. Seeing other businesses fail can make you nervous, especially if you have been struggling with your own company’s finances. Taking on more debt to keep your...
Chapter 11
Can I qualify for Chapter 11 as an individual?
In most instances of personal bankruptcy, an individual evaluates the advantages and drawbacks of using either Chapter 7 or Chapter 13. These two forms of bankruptcy actually account for more than 99 percent of all individual bankruptcies filed in the United States...
Leading golf equipment maker seeks bankruptcy protection
Many boomers will find it difficult to believe that the venerable game of golf is falling into disfavor in North America, including in Pennsylvania and states with similar demographics. Apparently, millennials have not become interested in the game due to its slowness...
Volunteer fire company seeks reorganization in bankruptcy
It may not be generally known that bankruptcy relief can be extended to public-service entities such as volunteer fire companies. Those kinds of nonprofit organizations can, however, obtain relief from creditors and an opportunity to reorganize in a Chapter 11...
Online publication Gawker weighs bankruptcy outcome and choices
Corporations that publish tabloids and disseminate yellow journalism are vulnerable to incurring one or more massive judgments that may threaten their financial viability. This can happen to a Pennsylvania business or to one in another state, and if the judgment is...
Bankruptcy offers the chance to restructure business debt
In Pennsylvania and elsewhere, bankruptcy is an option that consumers and businesses with overwhelming debt may find to be the key to their financial recovery. It is not a minimal remedy nor even an attempt to regulate an overactive or neglected budget. Bankruptcy is...
Business bankruptcy allows for normal operations in some cases
In many Chapter 11 filings in Pennsylvania or other jurisdictions, the main focus of the company will be to get over the preliminary hurdle of being able to continue operations as the bankruptcy goes forward. In a recent filing by Vertellus Specialties, Inc., the...
Large solar energy company contemplates Chapter 11 bankruptcy
Ironically, the low price of oil has hurt not only oil drillers and producers but has affected to some extent the renewable energy industry nationwide, including in Pennsylvania. The most glaring example of that influence can be seen in the impending bankruptcy of...
Shale oil company considers bankruptcy amidst revenue slump
The steep slide in oil prices has affected the shale oil industry in the United States. Several of the high-profile companies in the industry may consider bankruptcy reorganization or even liquidation. The industry has a fair share of companies operating in the...
Non-profit children’s museum set to emerge from bankruptcy
Non-profit charitable organizations are also able to take advantage of the workout provisions of the federal bankruptcy law. For example, a children's museum in Pennsylvania, called the Please Touch Museum, raised new donations and compromised several debts so that it...