Sentences with phrase «business debtor»
A "business debtor" refers to a company or organization that owes money to others. They have borrowed money or received goods or services on credit and are now responsible for paying it back. Full definition
Why should a small business debtor file for bankruptcy protection under a chapter 11 instead of some other type of bankruptcy?
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Generally, the debtor (unless a «small business debtor») has a 120 - day period during which it has an exclusive right to file a plan.
Detailed invoice aging and outstanding reports to effectively manage business debtors.
The U.S. trustee will also monitor the activities of the small business debtor during the case to identify as promptly as possible whether the debtor will be unable to confirm a plan.
He represents corporate and other business debtors and debtors - in - possession, creditors, official committees, trustees, asset buyers, and other parties in commercial bankruptcy proceedings in United States bankruptcy courts across numerous districts, including Massachusetts, New York, Delaware, Florida, Virginia, and Texas.
In order to explore what makes corporations and LLCs different, it is important to first note the one primary way in which they are similar: both have a barrier that prevents business debtors from collecting against the personal assets of an owner.
Note: small business debtors may have additional oversite where the U.S. trustee will review certain aspects of the debtor's business plan and review various reports.
In contrast to other chapter 11 debtors, the small business debtor is subject to additional oversight by the U.S. trustee.
Early in the case, the small business debtor must attend an «initial interview» with the U.S. trustee at which time the U.S. trustee will evaluate the debtor's viability, inquire about the debtor's business plan, and explain certain debtor obligations including the debtor's responsibility to file various reports.
Attorneys represent individuals, partnerships and corporations, and have significant experience in dealing with the numerous problems such entities face in dealing with both large and small business debtors.
Our data includes unique tags, such as Bankruptcy Appeal, Individual Debtor, Business Debtor, Adversary Proceeding, Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13, and Chapter 15.