Many small business owners in Rockland County who are facing unexpected financial difficulties may wonder about the consequences of filing a bankruptcy petition. Perhaps the most important question is whether to seek dissolution under Chapter 7 or a reorganization...
Month: March 2018
Toys ‘R’ Us suppliers weigh options after business bankruptcy
The decision by the leadership of Toys 'R' Us to close the company's stores in the United States is no longer fresh news. While adults in New York mourn the loss of a childhood icon, the company's suppliers are wondering if they will receive payments for toys sold to...
Choosing between a Chapter 7 and a Chapter 13 bankruptcy
People in Rockland County who are considering filing a bankruptcy petition usually wonder whether they should use Chapter 7 or Chapter 13. A Chapter 7 bankruptcy usually results in the discharge of many of a person's debts, whereas a Chapter 13 bankruptcy results in a...
Can I discharge all of my debts through personal bankruptcy?
When people in Rockland County consider bankruptcy, they want to reduce their debts by the greatest amount possible. A natural question is whether all debts can be discharged in either a Chapter 7 or a Chapter 13 consumer bankruptcy proceeding. The unhappy answer is...
Supermarket chain files for Chapter 11 bankruptcy
Tops Markets, LLC, one of the most recognizable names among grocery chains in New York and nearby states, has just filed a petition for bankruptcy under Chapter 11. Tops, based in Williamsville, New York, operates 169 stores in upstate New York, Pennsylvania and...
