Charles J. Schneider, P.C.certified consumer bankruptcy specialist
forms for your office visit
call today 734-237-1523
Practice Areas Menu In This Section

Posts tagged "Business bankruptcy"

What options does one have in a business bankruptcy?

Michigan business owners take pride in their work in building a successful business. However, sometimes, certain measures must be taken in order to prevent a company from falling under. Bankruptcy is one such measure that many business owners choose to take in order to restructure their businesses and keep the company alive. With bankruptcy, there are many laws involved and business owners often have a number of options available to them.

Retail giant RadioShack files for Chapter 11

As some business owners can likely attest to, staying afloat can be challenging, especially in today's uncertain economy. In order to survive, companies must always be turning a profit. One bad business deal or mismanagement of finances can cause a company's profits to crash. When this happens, business bankruptcy may be the best option.

Airline magazine file for bankruptcy protection

In order to be successful, businesses need to turn a profit. In some cases, businesses are profitable because they fill a void in a specific niche market. For these businesses, they thrive because they are doing something that no other businesses has been capable of doing. However, when other businesses move into the niche, it can be harder for the original business to compete.

The role of the Chapter 11 debtor in possession

In our last Wayne County bankruptcy law blog post, we made a reference to the term "debtor in possession." Let's take a little closer look at the meaning of debtor in possession according to the U.S. Courts website. The following is intended not as specific legal advice, but simply as general information.

Judge may convert Trump hotels' Chapter 11 into liquidation

Sometimes a bankruptcy case involves a small business struggling to keep the lights on. Other cases involve a major business bankruptcy with much more complex business bankruptcy issues to address. In either case, however, there are some underlying fundamental issues that Wayne County residents should understand, no matter what point they are at in their businesses.

Developer benefits from "breathing spell" in Chapter 11

For Wayne County business owners, the idea of filing for bankruptcy may seem antithetical to the very entrepreneurial spirit that drives them. One wants to hold on, keep fighting even in the face of overwhelming debt. However, for many, business bankruptcy is just the opposite of giving up the fight: it's a last-minute tactic that can turn the game around, sometimes even faster than expected.

As cupcake craze dies down, bakery files for Chapter 11

The cupcake craze of recent years swept Michigan just like every other part of the country. For one little East Coast bakery that first opened its doors in 2003, the national sweet tooth opened up opportunities to expand the business, even going public less than 10 years later. Crumbs was famous for its calorie-packed cupcakes, which sold for around three or four dollars apiece.

Michigan commercial bankruptcy case converted to Chapter 7

We've discussed a number of business bankruptcy cases in recent weeks on our Wayne County bankruptcy law blog. The latest involved a national restaurant chain emerging successfully from Chapter 11. However, one recent example of a commercial bankruptcy right here in Michigan highlights the importance of a sound reorganization plan when filing for Chapter 11, and the consequences of failing to develop one in the time allotted.

Carol's Daughter reorganizing with Chapter 11 protection

Many Wayne County residents understand that it is possible to rebuild one's finances and become stable - even successful - after filing for bankruptcy. The same is true for businesses that file for bankruptcy under Chapter 11. Unlike Chapter 7 which means the end of the business and liquidation of assets, Chapter 11 business bankruptcy allows companies to reorganize and continue operating without the burden of debt weighing them down.

Detroit bankruptcy mirrors struggles of many Michigan families

As the news of Michigan's largest city declaring bankruptcy has been developing, we've been following the story to see how it might impact Wayne County residents and others around the state. Detroit's decision to file for bankruptcy did not come as a surprise to many in the area since the city's financial troubles are well-known. Just like a business or a family that has fallen on hard times and struggled to recover, the city of Detroit must now focus efforts on getting back on its feet, paying back debtors, and charting a path towards a brighter future.

  • rating

    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

  • rating

    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

  • rating

    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

  • Avvo Rating 10.0 superb | Top Attorney Bankruptcy
  • Rated By Super Lawyers Charles J. Schneider | visit superlawyers.com | super lawyers 2011-2015
  • Avvo Ratting 10.0 superb Top attorney chapter 7
  • Avvo clients' choice 2014 | chapter 7
  • ICLE CONTRIBUTOR
  • American board of certification | certified consumer bankruptcy specialist
  • AV lexisNexis Martindale-Hubbell Peer Review Rated for ethical standards and legal ability
email us for a response

Let us evaluate your situation
and identify solutions

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy