When a business files a bankruptcy, under certain circumstances the bankruptcy trustee can assert a preference claim against certain creditors and take back from those creditors money previously paid to the creditor by the debtor. For example, if within 90 days of the...
Month: December 2019
Filing bankruptcy gives you a chance to rebuild your credit
To the average American, filing for bankruptcy may seem like a scorched-earth tactic for handling their debts. People might even compare it to a nuclear attack on their finances, leaving nothing behind. While it is true that bankruptcy has a profound impact on your...
The New Small Business Reorganization Act
The new Small Business Reorganization Act was signed into law by President Donald Trump on August 23, 2019 and goes into effect in February 2020. The changes are long over due. Filing a Chapter 11 bankruptcy for a small business has been problematic because it is more...