Archive for the ‘Eliminate Debt’ Category

Chapter 11 Benefits American Companies

26 January 2012 by Kelly G. Black  |  Continued Control, Eliminate Debt, News, Relief from Creditors, Run Business  |  No Comments

USA Today is running an article contrasting US reorganizations under Chapter 11 with foreign bankruptcy and insolvency law. In general, a Chapter 11 case allows management to retain control and run a business under the protection of the bankruptcy court, while proposing a plan to reduce or restructure its liabilities. While US law also allows liquidation, many other countries allow only liquidation, or sometimes a very restricted restricted reorganization. NASDAQ states that Chapter 11 provides American companies a competitive advantage. If you are considering requesting Chapter 11 bankruptcy protection, you should consult with an attorney familiar with Chapter 11 bankruptcies…

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Donald Trump’s Chapter 11 Filings

24 May 2011 by Kelly G. Black  |  Continued Control, Eliminate Debt, Individuals and Businesses  |  No Comments

Politicians tend to inspire strong reactions. During his recent flirtation with politics, Donald Trump was no exception. Among a number of insults launched by Cher, the only one relevant to this blog (or mild enough to repeat here) was the title “mr chapter 11.” An article at Forbes offers both defenses and criticisms of Trump’s bankruptcies. More importantly, it highlights two important characteristics of Chapter 11 bankruptcies: A Chapter 11 bankruptcy can be better for creditors than other options. As one source asked, “What is an empty casino sitting on the Atlantic City boardwalk worth? If it’s operating and it’s…

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