Enstrom Helicopter Corp., founded in 1959, closed its factory in Menominee, Michigan, on Jan. 21 after announcing it was filing for Chapter 7 bankruptcy. Citing “several financial difficulties” Dennis Martin, Enstrom’s director of sales and marketing, confirmed in a letter to employees and supporters that “all existing contracts and agreements [with the company] will become null and void” and that all the company’s employees, around 30, including senior management, were losing their jobs. ...
Such debtors should consider filing a petition under chapter 11 of the Bankruptcy Code. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization. Sole proprietorships may also be ...
Start Conversation ; Few brands stand the test of time. If, for example, you visited a mall in the 1980s or 1990s many of the featured brands you saw there no longer exist. In some cases, entire genres of stores have gone from prominent — every mall had one, and usually more than one, music store, and multiple bookstores were common — to nearly nonexistent. Some of that occurred as technology made some products irrelevant. Records and CDs have become expensive souvenirs that are more novelti...
Administration Bankruptcy Chapter 7 (US) CVA Conservatorship Dissolution Examinership IVA... This period allows the debtor 120 days from the date of filing for chapter 11 to propose a plan...
Prepare and File Your Very Own Chapter 7 Bankruptcy
SmileDirectClub Inc. sank Monday after the teeth-straightening company said voluntarily filed for Chapter 11 bankruptcy protection.
There are two main types of business bankruptcies in the U.S.: Chapter 7, or “liquidation bankruptcy,” and Chapter 11, or “rehabilitation bankruptcy.”
Chapter 7 bankruptcy can erase your overwhelming debt, such as from credit cards. Here's what you need to know about Chapter 7 bankruptcy and how to file.
for Chapter 7 or 13 may be eligible for Chapter 11. 2 3 However... commence after the bankruptcy is complete. In Chapter 11, the business or individual filing for bankruptcy has the first...
Liquidation under Chapter 7 is a common form of bankruptcy available to individuals who cannot make regular, monthly, payments toward their debts.