On Behalf of R3M Law, LLP | Sep 28, 2022 | Bankruptcy Law, chapter 11
Section 363 of the U.S. Bankruptcy Code allows debtors to sell assets and use funds from the sales to settle their debts. The bankruptcy court must approve all sales after hearing from any creditors with objections. How does the sales process work? The sales process...
by Rich Michaelson Magaliff, LLP | May 17, 2016 | chapter 11
Chapter 11 bankruptcy is often thought of as a filing that is meant only for corporations and big companies. However, Chapter 11 is also a possibility for smaller businesses, and indeed Chapter 11 filings are largely made up of smaller businesses. In this context, a...
by Rich Michaelson Magaliff, LLP | Apr 22, 2016 | chapter 11
The clothing industry is steady in some ways and very unsteady in others. On one hand, everyone needs clothes, which would suggest that demand is steady. But the specific kinds of clothes that consumers want to wear are dictated by fashion, which is capricious and...
by Rich Michaelson Magaliff, LLP | Mar 24, 2016 | chapter 11
This week we continue our discussion on struggling businesses in the energy business. The mining business seems to be having a dark moment of its own. Recently, U.S. coal producer Peabody Energy Corp failed to meet an interest payment deadline. The payment was...
by Rich Michaelson Magaliff, LLP | Mar 23, 2016 | chapter 11
Throughout the years we have seen certain industries being hit hard at one time or another. It seems that quite a few companies in the energy industry are feeling the heat currently, as quite a few have announced efforts to restructure their debt. The latest company...
by Rich Michaelson Magaliff, LLP | Feb 26, 2016 | chapter 11
Financial troubles can pop up in just about any industry. It may seem like some industries, such as the entertainment business, would be permanently protected from financial woes, but that is simply not the case. No matter how well a business is doing or how well the...
by Rich Michaelson Magaliff, LLP | Feb 5, 2016 | chapter 11
A fluctuating market and strong competitors can really take a toll on a company, no matter its size. Hancock Fabrics Inc., one of the biggest fabric sellers in the country knows a thing or two about that. It recently filed for Chapter 11 bankruptcy for the second time...
by Rich Michaelson Magaliff, LLP | Jan 30, 2016 | chapter 11
An insider claims the company recently skipped an interest payment and is discussing possible other options with bondholders. This step puts Sports Authority into a 30-day grace period. If the payment is not made within that period, a default will be triggered. The...
by Rich Michaelson Magaliff, LLP | Jan 29, 2016 | chapter 11
Most companies in New York and throughout the Unites States go through fluctuations. Some years are positive and bring a lot of growth, while others may be a bit stagnant financially or even see some decrease in profits. The main hope is that over time the company...
by Rich Michaelson Magaliff, LLP | Jan 6, 2016 | chapter 11
When we hear about a company being bought by another entity, we often see it as a negative step. But while change can be difficult for any business, this type of change may be a wonderful opportunity for a New York company to grow and improve. That’s exactly...
