Bankruptcy Archives - Naperville Law

What is the Difference Between Creditor Workouts and Bankruptcy?

by Brooks, Tarulis & Tibble | Jul 17, 2022 | Bankruptcy, Business Briefs, Business Law, Civil Litigation

Unfortunately, many businesses are confronted with extraordinary losses and may be forced to choose between a creditor workout or a reorganization bankruptcy in order to survive. Some of the differences between workouts and bankruptcies include. Timing. A creditor...

Business Liquidation

by Brooks, Tarulis & Tibble | May 13, 2021 | Bankruptcy, Business, Business Briefs

Once a business owner decides to liquidate his or her business for financial or other reasons, there are choices to be made as to the method of liquidation, including supervised liquidations: bankruptcy (Chapter 7), an assignment for the benefit of creditors (ABC) or...

Business Reorganization Versus Liquidation

by Brooks, Tarulis & Tibble | Feb 9, 2021 | Business, Business Briefs, Business Law, Taxes

When confronted with overwhelming financial difficulties, owners often consider whether it is better to reorganize or liquidate their business. In making that decision, owners have many factors to consider, including: Nature of the Economy. Is there a place for your...

Successor Liability – A Trap for the Unwary

by Douglas Tibble | Jun 1, 2012 | Business Law

The conventional wisdom is that when you buy the assets of another business you are insulated from the seller’s liabilities. The basis of this “wisdom” is rapidly eroding. Recent statutory and case law developments blur the difference between buying assets and buying...

Alternatives to Business Bankruptcy

by Douglas Tibble | Apr 1, 2012 | Bankruptcy, Business Law

As the complexity and cost of federal bankruptcy grows, more financially distressed businesses look to state law remedies to address creditors, reorganize, or liquidate. State law insolvency proceedings, such as receiverships, asset sales and assignments for benefit...

Business Failure – A Controlled and Soft Landing

by Brooks, Tarulis & Tibble | Apr 1, 2011 | Business Law

With the downturn of the economy and its slow recovery in many business sectors, certain businesses or portions of businesses may no longer be profitable or able to hold on until better times return. While the pressure of creditors and an unprofitable business...

Bankruptcy

What is the Difference Between Creditor Workouts and Bankruptcy?

Business Liquidation

Business Reorganization Versus Liquidation

Successor Liability – A Trap for the Unwary

Alternatives to Business Bankruptcy

Business Failure – A Controlled and Soft Landing

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