Many small business owners invest considerable time in developing a comprehensive business plan. They fail to take into account what will happen to their businesses at the time of their death or the death of a key employee.
Those who’ve exhausted their financial options or are unable to meet obligations due to illness, divorce, job-loss, or other life-altering events, may consider filing Bankruptcy to get their life back on track. Here is a quick-guide to help you navigate the process with the help of a good Bankruptcy Lawyer:
This Adversary case filed in a Chapter 13 Bankruptcy relates to promissory note fraud between the debtor and creditor. It was tried before Judge Schmetterer. Plaintiff/Creditor Anthony C. Gasunas (“Gasunas”) filed the Complaint to determine dischargeability of the debt owed to him by Debtor/Defendant William W. Yotis, III (“Yotis”).
Business Bankruptcy When a business becomes unable to meet obligations such as employee salaries, day to day invoices, and bank debt, management may turn to Bankruptcy law to liquidate or reorganize. As a rule, Courts prefer reorganization over liquidation, provided reorganization would be viable, preserve jobs, keep assets productive, and enhance the local economy. To...