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Welcome to Louisville Business Bankruptcy

Business is about taking risks. Sometimes you win; sometimes you lose. The community wants people to associate together and take business risks; that is why states provide for the formation of corporations and other limited liability entities. Workers in groups…

Chapter 7 Bankruptcy Timeline

8 or 6 Years Before Your Chapter 7 Bankruptcy You are eligible for a Chapter 7 discharge after 8 years have passed from the date you filed a prior Chapter 7 case and received a discharge; or after 6 years…

If Your Bankruptcy was Denied

The ability to file for bankruptcy is dependent on the chosen type of bankruptcy. You can file a Chapter 7 once every eight years, starting from the filing date, not discharge. You can file for Chapter 13 after successfully completing…

How to Avoid Filing Bankruptcy: The Alternatives

Before filing for bankruptcy you may want to consider alternatives. Consulting with a lawyer is recommended in order to avoid overlooking important details and to ensure things are done the correct way. Some alternatives may be: Negotiate with creditors: Open…

Has the Covid Shut-down Hurt Your Business?

Has the Panicdemic got your business shut down? Don’t forget that some commercial insurance covers business interruption and some policies may not be limited to physical damage causes. Read your business insurance policy carefully! For advice or help reading your…

Can You Convert Your Existing Chapter 11 to a Subchapter 5?

in March (2020), a Bankruptcy Court in Michigan allowed a debtor, who had filed for bankruptcy before the Small Business Reorganization Act of 2019 (SBRA) amendments, to proceed under Subchapter V of chapter 11. The judge’s opinion joins a growing…

New Bankruptcy Provisions Under Cares Act

*DRAFT* Small Business Reorganization Act Subchapter V of Chapter 11 Amendments For a period of one year from February, 2020, the CARES Act allows more small businesses to qualify as a debtor under the small business reorganization provisions of chapter…

7 Businesses that Recovered after Bankruptcy

*DRAFT* Filing bankruptcy doesn’t necessarily mean curtains for a company. Chapter 11 bankruptcy allows companies to revamp in order to again become successful. With the right restructuring strategy, companies can overcome and re-emerged from bankruptcy more profitable than they ever…

8 Tips for Business Success After Bankruptcy

*DRAFT* bankruptcy doesn’t have to mean the end of your business. if you file a chapter 11 you can reorganize and get back on your feet. just be sure to remember a few simple rules and you will be recovered…

An Overview of Chapter Eleven Bankruptcy

*DRAFT* This is how it works, folks. When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter…

May 2024
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