Pendergraft & Simon, L.L.P. Legal Blog
Why businesses face bankruptcy: It’s often out of their hands
When a business declares bankruptcy, it is common for people to think that the business has failed in some sense. They talk about how the business model did not work or the products were not up to par with the competition or something else along these lines. Certainly, some companies do go bankrupt for these…
Do you lose assets in Chapter 11?
You’re considering filing Chapter 11 bankruptcy for your business, but you’re hoping the company can still thrive in the future, so you naturally do not want to lose the assets you already own. You just need help with your debt. Are you going to have to sell off your assets — or are the lenders…
Chapter 11 bankruptcy may help you address your business debts
The Houston business environment continues to thrive, but owners face serious competition from all directions. Unless you are lucky enough to have found a lucrative niche in which to operate, your company is vulnerable to your competition. This means that many business owners here in Texas ultimately lose the battle with their competitors. As debts…
Understanding 363 asset sales and purchases
Under section 363 of the bankruptcy code, a debtor may sell assets with the approval of a court, to pay some of its debts to creditors. Three parties can benefit, and these are the advantages for them: The debtor: It is in their hands to try and raise as much money as possible from the sale of their…
Can you discharge your student loans in personal bankruptcy?
If you attended college, you probably have thousands of dollars in student loan debt. The same could be true for those who attended trade schools or even those who paid for an education at an uncertified, for-profit institution. Unfortunately, student loans don’t always translate to higher earning potential. If you have reached the point where…
