by phollender | May 11, 2020 | Bankruptcy, Chapter 13, Chapter 7
What will happen when: your employer gets its Paycheck Protection Program money, but your company has no customers? your $600 federal unemployment supplement expires?Coronavirus Economic Crisis: CARES Act makes Chapter 7 Bankruptcy Easier You have to stay home to...
by phollender | Apr 18, 2020 | Bankruptcy, Business Law, Chapter 11
The New Small Business Bankruptcy Reorganization Act (Subchapter V of Chapter 11) creates great opportunities for an individual or family business to stay in business by using a special type of Chapter 11 which is less expensive, simpler and faster.New Small Business...
On behalf of Corash & Hollender, P.C. | Apr 7, 2020 | Bankruptcy, Chapter 7
The Coronavirus Aid Relief and Economic Security Act, (Cares Act) dealing with the impact of COVID-19 has made it easier to qualify for Chapter 7 Bankruptcy, to eliminate credit card and other unsecured debt. Since 2005, an individual cannot qualify for Chapter 7, if...
by phollender | Apr 4, 2020 | Bankruptcy, Chapter 13, Chapter 7
In this time of financial uncertainty, EVERYONE is worried about the future. Instead of worrying, we invite you to call for a free telephone or video consultation to get THE FACTS from a BOARD-CERTIFIED BANKRUPTCY ATTORNEY. ARE YOU ELIGIBLE FOR CHAPTER 7 BANKRUPTCY...
by phollender | Mar 19, 2020 | Bankruptcy, Business Law, Chapter 11, Chapter 13, Chapter 7
Can Bankruptcy be a solution? Are you eligible? What are the Risks? What are your personal options? What is the best Chapter for you? What is the best timing? Everyone’s situation is unique. A“cookie-cutter” bankruptcy filing without proper strategic planning may not...
On behalf of Corash & Hollender, P.C. | Mar 16, 2020 | Bankruptcy, Business Law, Chapter 11
In a Traditional Chapter 11 case there is no Trustee: a debtor is on its own dealing with creditors and the Court. In a new Small Business case, a Chapter 11 Trustee is appointed. Unlike a Chapter 7 Trustee, however, who is only interested in liquidation and is an...
On behalf of Corash & Hollender, P.C. | Mar 13, 2020 | Bankruptcy, Business Law, Chapter 11
In Traditional Chapter 11 it is necessary to prepare a detailed “Disclosure Statement” similar to a prospectus for the purchase of securities. Preparation of such document is time-consuming and expensive. Then it must go through a hearing process and the judge must...
On behalf of Corash & Hollender, P.C. | Mar 11, 2020 | Bankruptcy, Chapter 13, Chapter 7
Board Certified Bankruptcy Lawyer Paul Hollender delves into four issues in his first meeting with a client: Is the client eligible for some type of bankruptcy relief What are the risks of each bankruptcy chapter for which the client is eligible? What are the...
On behalf of Corash & Hollender, P.C. | Mar 9, 2020 | Bankruptcy, Business Law, Chapter 11
In Traditional Chapter 11 the owners of the company are not allowed to remain as owners of the reorganized company unless either (i) the creditors accept the plan, or (2) the owners invest new capital of a value at least equal to the net worth of the reorganized...
On behalf of Corash & Hollender, P.C. | Mar 6, 2020 | Bankruptcy, Business Law, Chapter 11
In Traditional Chapter 11 the company must pay quarterly fees to the U.S. Trustee’s office, based upon the amount of quarterly disbursements. If disbursements are less than $15,000 per quarter the fee is only $325; but as disbursements rise, the quarterly fee...
