Tag Archives: Business Bankruptcy Options
Chapter 11 Bankruptcies and Commercial Leases in Shopping Centers
Shopping centers in the Tampa Bay area house many different types of businesses, from restaurants and bars to retail establishments. When a business in a Tampa Bay shopping center files for Chapter 11 bankruptcy, there are numerous issues that both the business owner and the commercial landlord will need to consider. While the business… Read More »
Involuntary Chapter 7 for a Tampa Small Business
When you are struggling to keep your small business in Tampa afloat, the prospect of facing a lawsuit from a creditor or debt collector can be extremely stressful. You may even be considering the possibility of Chapter 11 bankruptcy for your business in order to reorganize your debts and to get caught up on… Read More »
COVID-19 SBA Loans and Personal Guarantees
Many businesses in the Tampa Bay area have struggled as a result of the COVID-19 emergency, and some are considering bankruptcy. As a result of the Florida governor’s stay-at-home order, businesses that were not identified as “essential” could not remain open with regular hours and regular employees. For those non-essential businesses, the coronavirus pandemic… Read More »
Chapter 11 Bankruptcy: How Attorneys Have to Get Court Approval for Payment of Fees
Chapter 11 bankruptcy is a particular type of reorganization bankruptcy that is used largely by businesses in order to reorganize debt. In some cases, individuals will also file for Chapter 11 bankruptcy if they want to reorganize their debts but do not qualify for Chapter 13 bankruptcy because their secured or unsecured debts exceed… Read More »
Recent Changes to Bankruptcy Law: What You Should Know About the Small Business Reorganization Act
Recent changes to U.S. bankruptcy law make it easier for small businesses and individuals to file for bankruptcy. More specifically, the Small Business Reorganization Act of 2019 (H.R. 3311), as well as the HAVEN Act (H.R. 2938) and the Family Farmer Relief Act of 2019 (H.R. 2336) have been signed into law and took… Read More »
Chapter 11 and Bank Account Garnishments in Florida
Most businesses in the Tampa Bay area that file for Chapter 11 bankruptcy expect that they will benefit from the automatic stay connected to their bankruptcy filing. The automatic stay is designed to prevent creditors from taking any additional actions to collect on debt, and in most cases the automatic stay prevents any lawsuits… Read More »
Chapter 11 Post-Petition Payments to Food Vendors
When a restaurant or bar in the Tampa Bay area files for Chapter 11 bankruptcy, many of its suppliers may worry about whether they will receive payment for goods or services they have already supplied. Most vendors will assume that they will ultimately be repaid as long as they take the necessary steps in… Read More »
Business Lender and Personal Guarantees
When a Business fails, what can happen to the owner? Here are some common questions and answers about personal guarantees on business debt. Question: What are the basics every business owner needs to know about personal guarantees? Answer: Normally when a business owner signs a loan on behalf of its business, the creditor can… Read More »
Shopping Mall Bankruptcy
Insolvent Businesses and Bankruptcy Auctions When a business becomes insolvent, it’s unlikely that a bankruptcy court will approve a Chapter 11 reorganization. To be sure, it’s pretty difficult for such a business to prove that it might be able to repay any debts. And that’s exactly what happened recently in Plantation, Florida. According to… Read More »
Getting a Fresh Start through Restaurant Bankruptcy
If you own a restaurant in the Tampa area and are considering filing for bankruptcy, it is important to know that you are not alone. To be sure, South Florida businesses file for Chapter 11 bankruptcy on a regular basis, and according to an article in QSR Magazine, bankruptcy might actually be able to… Read More »
