Southern California Bankruptcy Law Blog

Category Archives: Small Business Bankruptcy

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Prepackaged Chapter 11 Bankruptcy

Posted in Chapter 11, Chapter 11 for Individuals & Married Couples, Small Business Bankruptcy

In this Christmas season children are eagerly awaiting prepackaged presents.  That’s an odd locution, isn’t it?  We usually refer to the gifts as wrapped rather than prepackaged.  I chose the word “prepackaged” because when something is prepackaged it’s all wrapped up.  What does this have to do with Chapter 11 bankruptcy?  A little background will… Continue Reading

Can I File For Bankruptcy More Than Once? (Part 1)

Posted in Chapter 11, Chapter 11 for Individuals & Married Couples, Chapter 13, Chapter 7, Small Business Bankruptcy, Small Business Chapter 7

The short answer to this is, yes.  But as you may suspect from the fact that this post is considerably longer than one sentence, there is a good deal more to a thorough answer than that monosyllabic response.  There are two possibilities regarding your previous bankruptcy:  (1) you received a discharge, and (2) your case… Continue Reading

Involuntary Bankruptcy: What Is It, And Why Would Anyone File One?

Posted in Chapter 11, Chapter 11 for Individuals & Married Couples, Chapter 7, Debt, Small Business Bankruptcy, Small Business Chapter 7

A fellow attorney, but not a bankruptcy attorney, recently asked me this question because he had a business client who wanted to use an involuntary bankruptcy filing to collect money from a judgment debtor.  To answer my colleague’s question we need a little background.  Let’s start with the concept of a voluntary bankruptcy. I.          Voluntary… Continue Reading

What Are ABCs? Assignment for the Benefit of Creditors

Posted in Chapter 11, Chapter 7, Small Business Bankruptcy

Kindergarteners have one answer to the question in our title.  Bankruptcy attorneys have another.  An ABC is an “Assignment for the Benefit of Creditors,” and it provides an alternative to Chapter 7 liquidation for a small business that is shutting down.  Let’s compare the two approaches to resolving business debts. I.          Business Bankruptcy The Bankruptcy… Continue Reading