Business Bankruptcy

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BANKRUPTCY MEANS TEST APPLIES TO CONSUMER BANKRUPTCY ONLY

By Ben Wright of Wright Law Offices. Arizona residents considering bankruptcy need to be aware that there is a difference between a consumer bankruptcy filing and a business bankruptcy filing.   In other words, there are different rules that need to be followed depending upon where and how your debts are incurred. Bankruptcy code 11 U.S.C. [...]

By |2014-12-04T17:35:41+00:00December 4th, 2014|Bankruptcy in Arizona, Business Bankruptcy, Chapter 7|0 Comments

Commercial Bankruptcy Can Mean A New Life For A Business

Many people see bankruptcy as symbolic of failure. In fact, bankruptcy can provide a fresh start for an individual or entity. Small companies to large corporations in Arizona and across the country use business bankruptcy to continue business operations while negotiating with creditors. In the case of an east coast ski resort, mild winter weather [...]

By |2014-11-03T16:18:57+00:00November 3rd, 2014|Bankruptcy in Arizona, Business Bankruptcy, Chapter 11|0 Comments

One Resort Requires Five Chapter 11 Filings

A single-location resort would not appear to be the source of multiple business bankruptcy filings, but when it is operated by five business entities, it requires five separate Chapter 11 filings. That is what occurred in late 2012 when five commercial bankruptcy proceedings were filed in the bankruptcy court in Phoenix related to the operation [...]

By |2014-02-25T16:58:55+00:00February 25th, 2014|Bankruptcy in Arizona, Bankruptcy News, Chapter 11|0 Comments

Airline Trimmed Costs During Business Bankruptcy

Business owners in Phoenix, Arizona, are all too aware of the effect a struggling economy has had on their cash flow and accounts receivable payments. Business owners across the country who made the difficult decision to pursue a business bankruptcy have saved their companies by using the business reorganization process to drastically cut costs. For [...]

By |2014-02-19T23:39:03+00:00February 19th, 2014|Bankruptcy News, Business Bankruptcy, Chapter 11|0 Comments

Rebounding From a Business Bankruptcy

People associate business bankruptcy with failure that occurs when a business owner could not compete in a highly competitive market. Fashion designer Betsey Johnson might have fit that description in 2012 when, after 35 years in business, dwindling profits and mounting debt forced her to close the 63 shops that sold her clothing designs for [...]

By |2014-02-11T17:14:53+00:00February 11th, 2014|Bankruptcy News, Business Bankruptcy, Chapter 11|0 Comments

Eastman Kodak’s Business Bankruptcy Woes Continue

As Eastman Kodak struggles to handle its obligations under a business bankruptcy filing, the third quarter postings indicate that the losses for the company were $312 million. This is almost $100 million more than the $222 million loss posted for the third quarter of 2011. Part of the reason may come from a 19 percent [...]

By |2014-02-04T17:04:37+00:00February 4th, 2014|Bankruptcy News, Business Bankruptcy, Chapter 11|0 Comments

Arizona Ambulance Provider Files For Chapter 11 Bankruptcy

Arizona-based Rural/Metro. Corp., which is owned by Warburg Pincus LLC, has filed for Chapter 11 bankruptcy protection. The company has negotiated an agreement with certain creditors to help obtain new capital while reducing company debts by approximately 50 percent. The chief financial officer claimed that the proposed plan will allow the company to continue to [...]

By |2014-01-27T17:36:59+00:00January 27th, 2014|Bankruptcy News, Business Bankruptcy|0 Comments

Bankruptcy Negotiations Over Energy Future Holdings Corp. Stall

Residents in Phoenix may have heard that the three companies, KKR & Co., Goldman Sachs Capital Partners and TPG Capital, that bought out much of Energy Future Holdings Corp. are struggling to recover just 3 percent of their investment. The energy company plans to file for business bankruptcy. The companies were negotiating a resolution in [...]

By |2014-01-23T17:53:06+00:00January 23rd, 2014|Bankruptcy News, Business Bankruptcy|0 Comments