These are difficult times to do business. Business owners, all over the world, are assessing how to meet their obligations during times when others may not be able to meet theirs. Difficult choices need to be made and the cascading effect of debts that are remain unpaid are leaving many in the position of making tough choices to save their businesses, employees and jobs, all while trying to survive this pandemic.
When the reality of surviving debt seem too great to manage, many consider the protection of bankruptcy as a natural course. The filing of a bankruptcy petition automatically may stay or stop most claims and actions against your business or you. Bankruptcy has a chapter 7 and a chapter 11, each with its own difficulties and opportunities. Under chapter 7 you would engage in turning over assets to creditors for disposition in an orderly fashion in the reasonable course. Chapter 11 would be an option when people and businesses see opportunity to survive if able to postpone, reduce or renegotiate debts, contracts and performance, while the bankrupt estate seeks to regroup.
When turning to others to help explore important business decisions, whether considering the bankruptcy option or not, we suggest you turn to those who can help present strength and diplomacy with experience. Turn to someone who has handled everything from the most complicated, to the most simple bankruptcy matters and who’s trial counsel help secure one of the largest bankruptcy decisions decided by the Supreme Court of the United States in Marshall v. Marshall and Stern v Marshall .The Boesch Law Group has experience in disputes that must be decided in bankruptcy court, and the knowledge to advise you when a creditor or bankrupt debtor can exit the bankruptcy court to proceed in state court or probate court. Whether you are a creditor or debtor, the complexities of bankruptcy and whether a particular issue is “core” to the bankruptcy case or “non-core,” can often be the difference between success and failure. Know what you are doing. Contact the Boesch Law Group for a consultation.