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Alternatives to Business Bankruptcy
A Match Made in Heaven? At first blush, cannabis and a legal practice like receivership might seem an unlikely match. Medical and recreational cannabis has steadily grown in acceptance and legalization over the past decade in the United States. However, there are times when cannabis businesses face insolvency and need a legal solution. As of right now, cannabis companies are not eligible for bankruptcy protection. In many cases, the groups they make payments to are also not eligible. This affects not only the companies but also the employees and their […]
A composition agreement is an out of court agreement between the debtor and two or more creditors regarding payment arrangements on a debt.
When is a business turnaround no longer viable? Ask these questions to determine if you or your client’s business can be saved.
The statutes that dictate how to start and manage a receivership may differ depending on the state. One thing is for sure: Washington state a’int Minnesota.
Receiverships have been a remedy in Minnesota law for over a hundred years, but Minnesota recently revised its receivership statute in 2012. Understand more about how this bankruptcy alternative may be used to sell commercial real estate.
What powers is a receiver granted in order to achieve its goals? Understand a receiver’s scope and powers within a state equity receivership.
In a Delaware assignment for the benefit of creditors case, court approval is not required for a sale, but, time, money, and preference can factor.
Assignment for Benefit of Creditors (ABC) might mitigate loss and preserve going-concern value for the company and its secured creditor.
The ABCs of ABCs, Business Bankruptcy, & Corporate Restructuring/Insolvency In Installment 5, we walked through the lifecycle of a hypothetical traditional chapter 11, and in Installment 6 we discussed key concepts you must comprehend in order to understand any chapter 11 case. Now we pull the camera back and turn our focus away from chapter 11 specifically, to look more broadly at the options available to a company (that is, a “debtor”) and to its various constituents (e.g., creditors and equity owners) when that company is experiencing financial distress so […]