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Chapter 11 Archives

Reorganization complete for SunEdison after Chapter 11

The reorganization for SunEdison has been completed after the company exited Chapter 11 bankruptcy earlier this month. The company is calling its new footprint significantly smaller than what it was in the past. SunEdison was once a major player in the renewable energies industry. The company announced the reorganization plan on Friday, Dec. 29.

Asset liquidation options for Nashua businesses

Running a business takes quite a bit of energy, time and dedication. No matter how much time and effort you put into a company it can still struggle to the point where bankruptcy is necessary. When your business runs into cash flow issues you have options to help recover from a difficult financial situation. Today, we will discuss the asset liquidation options available for Nashua businesses.

Bankruptcy plan for Perfumania approved

The bankruptcy plan for Perfumania Holdings Inc., a retailer that sells perfumes and fragrances, has been approved by the court. The announcement came earlier this week. The company made the announcement that the United States Bankruptcy Court for the District of Delaware approved the plan.

What is unsecured debt?

No one ever said life would be easy. In fact, it only gets harder as you get older. One thing that makes life so difficult to live is when debt accrues. Debt is commonly accrued when buying a car, a home or going to school. It can also be accrued through unpaid medical bills, unpaid utility bills and through the use of credit cards.

Chapter 11 bankruptcy sought by New England prosthetic company

A prosthetic company based in New England is seeking Chapter 11 bankruptcy, according to confirmation from the company's chief executive officer (CEO). The company, the New England Orthotic and Prosthetic Systems, filed for protection from its creditors in the middle of July. The company is headquartered in Branford. The company will legally be allowed to continue operations as it restructures debt.

Takata files for bankruptcy amid airbag scandal

Amid a crippling airbag scandal, automotive company Takata has filed for Chapter 11 bankruptcy protection. The company is still in the midst of the largest recall in the history of the United States. The company is working to fix a defect that has led to at least 16 deaths across the world. Takata is the second-largest airbag manufacturer in the world.

Here's what happens when businesses file for bankruptcy

The news is littered with stories about businesses filing for bankruptcy these days, specifically brick and mortar stores. The explosion of online shopping has hurt brick and mortar stores more than many thought would happen. Because of the ease and accessibility of online shopping, companies are forced to file for bankruptcy. Here's what happens when businesses file for bankruptcy.

Debt relief and how it affects your credit score in New Hampshire

A multitude of people seek debt relief each year for various reasons. Whether you have accrued debt due to poor credit management, too much spending or ill-advised purchases, you can get relief from that debt through bankruptcy and other options. But, debt relief does have an impact on your credit score in New Hampshire.

Understanding Chapter 11 bankruptcy

Known as reorganization bankruptcy, Chapter 11 bankruptcy gives you a chance to reorganize your debts so that you can pay them down and keep your business open. It's possible for individuals to choose this kind of bankruptcy as well, though it is more common for businesses.

Why would someone choose Chapter 11 bankruptcy over Chapter 7?

Chapter 11 bankruptcy is an important form of bankruptcy for businesses. It's uncommon, but even consumers can use this form of bankruptcy in some cases. Chapter 11 gives you time to make a plan to emerge from bankruptcy with a better handle on your finances. It temporarily puts the creditors on hold, giving you time to cut back on costs and seek new income or sources of revenue.

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