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Author Archives: Michael J. Berger

Can Chapter 11 Provide a Company Relief from PPP Loans?

Small businesses that used the Paycheck Protection Program to keep their workforces employed during the COVID-19 pandemic may now be looking for ways to relieve their financial burdens. One path for relief is PPP loan forgiveness through the U.S. Small Business Administration (SBA). Alternatively, a company might be able to use Chapter 11 bankruptcy to discharge […]

Does a Business Bankruptcy Affect Your Personal Assets?

If your business falls into distress and you’re contemplating bankruptcy, you are naturally concerned about protecting your home and other personal assets from business creditors. Your ability to do so, whether your business is seeking Chapter 7 or Chapter 11 relief, depends in large measure upon the legal structure of the enterprise. If you own […]

Planning Exit Strategies Before Filing a Chapter 11

Entering into agreements with key creditor groups before filing a Chapter 11 bankruptcy can be of great advantage for a business debtor, especially a smaller company that is more likely to be impacted by the costs of a bankruptcy. This prearranged approach is often memorialized in a restructuring support agreement (RSA), a contract that outlines […]

What to Know About Attending a Virtual Creditors’ Meetings via Zoom

Creditors’ meetings —also known as Section 341 meetings — are a necessary stage of every Chapter 7 bankruptcy case. Their purpose is to make sure the information in the debtor’s petition is accurate and to find out if there are any facts or circumstances that might justify denial of bankruptcy relief. These meetings, which debtors […]

Prefiling Mistakes That Can Derail Your Bankruptcy Case

Bankruptcy, whether it be in the form of a Chapter 7 liquidation or a Chapter 13 debt reorganization, can provide a fresh start for individuals struggling with overwhelming debt. However, there are several errors debtors commonly make prior to filing their petition that can jeopardize the success of their case as well as trigger other […]

Bankruptcy Options for Small Businesses in Financial Distress

Navigating financial challenges is a common part of running a small business. But when the burden of debt becomes too heavy to bear, owners have legal alternatives to shutting down the enterprise. The primary bankruptcy options that allow small businesses to stay in operation are Chapter 11 and Chapter 13. Which option is best suited […]

Overcoming Creditors’ Objections to Chapter 11 Plan Confirmation

Chapter 11 bankruptcy is a legal remedy that allows businesses, both large and small, to reorganize and continue their operations while relieving some of their financial difficulties. The U.S. Bankruptcy Code requires that under a Chapter 11 reorganization plan, each creditor will receive at least as much as they would have in a Chapter 7 […]

What Is a Willful and Malicious Injury That Can Exclude a Debt from Bankruptcy Discharge?

Bankruptcy is a legal remedy that allows individuals and businesses to discharge most of their debts. However, there are some types of debts that are not dischargeable in bankruptcy, including those that are based on willful and malicious injury by the debtor. This exclusion of these debts in Chapter 7, Chapter 11 and Chapter 13 […]

Things You Should Not Do Before Filing for Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a debt forgiveness remedy that allows individuals to discharge most of what they owe creditors, such as credit card debt, medical bills and personal loans. Though some people think of bankruptcy as a last resort, if used effectively it can steer you out of financial straits and set you on a […]

The Value of Restructuring Support Agreements in Chapter 11 Cases

When a company in financial distress seeks to reorganize via a Chapter 11 bankruptcy, one critical tool at hand is the restructuring support agreement (RSA). An RSA is a binding contract between the debtor and certain key creditors that outlines the terms and conditions of a proposed Chapter 11 plan before it is even filed […]


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