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Posts tagged "assets"

Solvency is an important factor for business bankruptcy

Under the U.S. Bankruptcy Code, insolvency generally means that a person or entity has more debts than it has assets. A visual representation of insolvency would be the financial balance sheet of a New York company that has its value in negative territory. When a private or business entity finds itself operating in the red, it may consider filing for bankruptcy to improve its struggling financial state.

Foreign countries file for business bankruptcy in United States

Some New York readers may be familiar with the legal term "jurisdiction." Jurisdiction has to do with where a legal matter can filed and what court may hear the related matter. Most parties who wish to engage in legal matters must have some connection to the jurisdictions in which they choose to file their bankruptcy or litigation paperwork.

Business bankruptcy is an option to save life's work

The dream of owning one's own business sometimes becomes a reality for hardworking New York residents. From the stresses of funding the start-up to navigating the challenges of marketing and contracts, the toil associated with making a new business succeed can be overwhelming. The immense amount of work that a person puts into his enterprise can intensify his feelings of disappointment when that business begins to fail.

What happens to a business under Chapter 11 bankruptcy?

Many of the posts on this blog have addressed how New York consumers can approach bankruptcy as a method of finding solid financial footing. While individuals certainly make up a large portion of the cases in bankruptcy courts, businesses also face precarious economic times. While some bankruptcy methods overlap for both consumers and businesses, some are better tailored to one debtor population.

Business bankruptcy raises questions of partnership

Businesses throughout New York open their doors for the first time each day. For some, selling their goods and services within their communities is easy to do. Others struggle to keep their doors open after the excitement of starting up wanes. Many businesses attempt to preserve their existences through bankruptcy and other financial opportunities when their only other option is to close.

Famous New York company files for Chapter 11 protection

New York businesses are not immune from changing technology, consumer demand and the fluctuating economy. Many factors influence how successful a business can be. Sometimes even with the smallest of changes or challenges, businesses can no longer operate in the black.

New York hospital files for Chapter 11 bankruptcy

Economic times in New York have created a difficult environment for many businesses. Despite the hardship, many businesses have been making improvements to help remain competitive in this economy. However, sometimes a business can do everything right and still they are unable to remain viable.

After death of owner, New York business files for bankruptcy

Some businesses rely on a team of people working together to be successful, while others rely on the talent of one individual. When one person is responsible for making a business run the business can have a difficult time succeeding without that individual. In this competitive business environment, even the smallest challenges can spell trouble for New York businesses.

Loehmann's filing for bankruptcy for third and final time

Dealing with financial troubles is not easy on anyone. This is especially true for those who run a business. Competition is high for those going against major companies such as retailers. Keeping up with trends and keeping a constant cash flow can be difficult during tough economical times. When a company is struggling to make ends meet, it might mean it's time to go through business debt negotiations or file for business bankruptcy.

New York tableware manufacturer emerges from Chapter 11

The face and thrust of a business can change many times, especially with a business that competes worldwide and across decades. That was the case with a dinnerware manufacturer in New York. The company, which is now the only remaining manufacturer of forks, knives and spoons in the United States, was actually started back in 1880 by a utopian group, Oneida Community, in Sherrill, New York.

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