Determining how a Chapter 11 bankruptcy works before your company files for Chapter 11 can be confusing, in part because the bankruptcy code is complicated. This blog post and next week’s post will discuss some of the key terms you might see while researching Chapter 11 bankruptcy.
Across the country, people are flocking to grocery stores to buy up the last bits of Twinkies and other Hostess goodies. Hostess declared on Friday that it will be unable to continue its Chapter 11 bankruptcy and has asked the bankruptcy court for permission to liquidate and go out of business.
If your business is facing significant debt, it may seem like it will never surface as a productive entity. This is especially true if you expanded too quickly and now find yourself facing lease issues in addition to normal business debt.
American Suzuki Motor Corp recently received bankruptcy court approval to borrow money from its parent corporation, Suzuki Motor Corp.
Approval of the $45 million loan at a 3 percent interest rate was necessary for the bankrupt corporation, which plans to shut down some dealerships while it works to increase boat and motorcycle sales.
In October, American Airlines announced that it had made profit during quarter three — its first quarterly profit since 2010. In fact, it set an all-time company revenue record. The company filed for Chapter 11 bankruptcy in November of 2011. American is yet another example of how Chapter 11 bankruptcy does not need to ruin a company but can, in fact, put it back in the black.