Some people put off the job of preparing a will, mainly because they find it tough to think about end-of-life details. It is easier to think about the next family vacation or the next golf game. However, putting a will together is not such an onerous task if you work with an attorney experienced in estate planning matters, and you get organized before you and the lawyer meet.
New Hampshire residents might be interested to learn that TiVo is set to purchase assets from an online startup company called Aereo. On March 13, TiVo announced that it had received approval from the U.S. Bankruptcy Court in Manhattan to buy Aereo's customer lists, trademarks, patents and hardware.
Public companies, in New Hampshire and elsewhere, sometimes find themselves deeply in debt. When this occurs, the business cannot operate efficiently. It may lose its line of credit or be unable to pay its employees. In these cases, a company has the option of declaring Chapter 7 or Chapter 11 bankruptcy. These are federal laws designed to protect creditors' rights while helping a company to either get back on its feet or close its doors.
Getting a cupcake along the East Coast may be harder now that Crumbs is closing. As many New Hampshire residents may know, the cupcake retailer has curtailed operations after it lost its listing on Nasdaq at the beginning of the month.
Media sources report that an audio company has recently filed for bankruptcy in the U.S. Bankruptcy Court for the District of New Hampshire. Audioplex, a maker of multiroom audio products, is expected to liquidate around $260,000 worth of assets as a result of the filing, including wallplates, volume controls, IR distribution products and speaker selectors.
Several restaurant chains have filed for Chapter 11 bankruptcy protection recently including Quiznos, a restaurant chain that specializes in toasted subs. Quiznos’ bankruptcy protection filing comes less than one week after Sbarro, another restaurant chain, did the same. Quiznos once had more than 5,000 independently-owned stores, but the number of stores has dwindled to 2,100. Because all but seven of the stores are independently-owned and operated franchises, no store closings are expected during the bankruptcy process. According to Quiznos’ website, there are three stores located in New Hampshire.
Have you ever heard of "negative amortization?" The term refers to debt that increases faster than you can pay it off. Usually negative amortization occurs because the interest on a loan or some credit exceeds the minimum payment that the in-debt person is making. But ever since 2003 -- when financial rules were changed to force lenders to make their minimum payments at a level that would pay off the debt "over a reasonable period of time" -- negative amortization has become increasingly rare.
It doesn't matter where you are located -- businesses go bankrupt all the time. Companies that are big or small; firms that are international in scope or are simply a local small business; and organizations that have an extensive footprint on their industry, or are merely just getting started; all of these entities, and every company inbetween, could go bankrupt. It's the nature of business.