Author Archives: Jay Butchko
COVID-19 Closed My Small Business. Can Bankruptcy Help?
Recovery from the COVID-19 pandemic is underway and New York residents are eager to resume their usual activities. Unfortunately, it comes too late for some small businesses. If your business closed due to the pandemic, it is important to be aware of how filing for bankruptcy can help. How Bankruptcy Can Help Settle Outstanding… Read More »
The Difference Between Personal And Business Bankruptcy
Running a business requires large investments of time and money. When the business struggles, it jeopardizes your personal financial security. Filing for bankruptcy can provide a solution, offering you the chance to make a fresh start. Which should you file-personal or business bankruptcy? Our New York bankruptcy attorneys provide some basic information about each… Read More »
Disclosure Statement In Chapter 11 Business Bankruptcy Proceedings
When businesses go through difficult times, it is easy to fall behind on payments for leases, supplies, inventory, or other debts. Unfortunately, this situation can quickly snowball. Despite your best efforts at trying to maintain profits while juggling payments, your business’ future could be in real jeopardy. Filing for a Chapter 11 business bankruptcy… Read More »
What Is A Creditors Committee In Chapter 11 Business Bankruptcy
If your business has suffered temporary setbacks or is otherwise going through a hard time, filing for Chapter 11 bankruptcy can provide the fresh start you need. Often referred to as a reorganization, it gives struggling companies a chance to protect their current assets against creditors’ claims, allowing them to remain in business while… Read More »
Five Warning Signs Your Business Is Headed Towards Bankruptcy
Large and small companies alike have weathered a wavering economy and drastic reductions in business over the past year due to the COVID-19 pandemic. As a result, for the first time since March of 2020 the rates for business bankruptcy have begun to spike. In many cases, filing for bankruptcy is the best option… Read More »
Five Qualities To Look For In Choosing The Best New York Business Bankruptcy Attorney
For businesses that are struggling, filing for bankruptcy often provides the fresh start you need. It can help you overcome financial hurdles and maintain profitability or protect you against liability in the event you decide to close your business. In either scenario, you want to have the best New York bankruptcy attorney on your… Read More »
Starting A New Business After Filing For Bankruptcy
Owning their own business is a lifetime dream for many people but numerous factors can undermine your success, causing your business to fail. If you filed business bankruptcy previously, it does not mean the end of your dream. Starting a new business after filing for bankruptcy is possible but there are potential issues you… Read More »
Frequently Asked Questions About Business Bankruptcy
Being a successful business owner requires the ability to anticipate potential problems and uncover solutions to address them. If your business is struggling financially, filing for bankruptcy might be your best option. However, questions you have about the process and the potential impact it could have may be holding you back from taking this… Read More »
Involuntary Petitions In Bankruptcy
Filing for bankruptcy can help protect your business by eliminating certain debts and renegotiating payment on others. It allows you to maintain relationships with suppliers while preventing creditor harassment and additional collections actions. You may be reluctant to file for bankruptcy but it is important to be aware that if you are struggling in… Read More »
Your Personal Liability In Business Bankruptcy
As a business owner, unexpected events can arise that impact your cash flow and your ability to make payments to suppliers and other creditors. Rather than allow these problems to jeopardize your business, filing for bankruptcy may be your best option. Business bankruptcy provides important protections but one of the most common questions we… Read More »