Congressional Democrats spearheaded by Elizabeth Warren (Mass.) and Jerrold Nadler (N.Y.) have proposed sweeping legislation that would overhaul consumer bankruptcy law as we know it. The bill still has a long journey to becoming law and will almost undoubtedly undergo tweaks by the time if/when its finalized. Therefore its important to track the progression and […]
Bankruptcy laws have been around for many years but unless you have been through the process, you may have unwarranted preconceived notions based on second-hand information. However, when businesses are in financial straits, bankruptcy may be an option to consider. In this article, our bankruptcy attorneys explain filing types that may be an option for your business.¹ Who Files […]
Modeled after Chapter 13 bankruptcy, Chapter 12 is a relatively new addition to bankruptcy laws. It provides reorganizational advantages and financial relief specifically for family farmers and fisherman in debt. Today, our Tampa, FL based bankruptcy attorneys shed light on this bankruptcy option for seasonal businesses. About Chapter 12 Bankruptcy When most business owners think of bankruptcy law, they tend to think of Chapter 11, 13, or 7. In addition to these three types of bankruptcy, there is also what’s referred to as Chapter 12. This form of bankruptcy law allows “family farmers” and “family fisherman” to avoid foreclosure […]
In re Wade, 18-2564 Held that bankruptcy debtors could not appeal the denial of their motion for sanctions, because they had not filed a petition for permission to appeal, as required under Federal Rule of Bankruptcy Procedure 8006(g). Criticized two circuit precedents that appeared to recognize exceptions to this procedural requirement.
UV is a senior living Continuing Care Retirement Community located near the University of South Florida at 12401 N. 22nd St Tampa, FL 33612. It consists of 446 independent living apartments and 46 villa units, 110 assisted nursing apartments and 120 skilled nursing beds. It has been owned by partners in Westport Holdings, Tampa and […]
Unable to pay its debt, Puerto Rico recently filed a Title III petition in federal court. Due to low financial resources and persistent creditor collection efforts, Puerto Rico became the first state or territory to seek this type of relief. With rising debt levels continuing to climb (over $114 billion), Puerto Rico turned to Congress […]
Chapter 11, entitled Reorganization, ordinarily is used by individuals with high debt levels or commercial enterprises that desire to continue operating a business and repay creditors concurrently through a court-approved plan of reorganization. The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it […]