by Geoffrey Purkis | Feb 20, 2024 | Uncategorized
Chapter 11 and Chapter 13 are two different types of bankruptcy filings under the United States Bankruptcy Code, and they are generally used for different purposes. Here’s a brief overview of each and why a business might choose one over the other: Chapter 11...
by Geoffrey Purkis | Feb 20, 2024 | Uncategorized
Here are some general factors that contribute to bankruptcy risks for DTC brands. Market Saturation: If a particular market or niche becomes oversaturated with DTC brands offering similar products or services, it can lead to increased competition, price wars, and...
by Geoffrey Purkis | Jan 8, 2024 | Uncategorized
If a creditor violates the automatic stay in bankruptcy, it is considered a serious matter, and there are consequences for such actions. The automatic stay is a fundamental protection provided to debtors during bankruptcy proceedings, and violating it can result in...
by Geoffrey Purkis | Jan 5, 2024 | Uncategorized
In the context of bankruptcy, the discharge of a personal guarantee depends on the type of bankruptcy and the specific circumstances surrounding the guarantee. Here’s a general overview: In a Chapter 7 bankruptcy, which involves the liquidation of assets to pay...
by Geoffrey Purkis | Jan 5, 2024 | Uncategorized
A personal guarantee is a legal commitment by an individual to personally take responsibility for a debt or obligation if a business or another party fails to fulfill its financial obligations. In the context of business transactions, lenders or creditors may require...
by Geoffrey Purkis | Jan 5, 2024 | Uncategorized
A bankruptcy petition is a formal legal document filed by an individual or entity seeking protection under the bankruptcy laws. It initiates the bankruptcy process and serves as the official request for relief from overwhelming financial obligations. The bankruptcy...
by Geoffrey Purkis | Jan 5, 2024 | Chapter 11 Bankruptcy, Chapter 11 News
High Operating Costs: Running a restaurant involves various expenses, including rent, utilities, wages, and the cost of ingredients. If these costs are too high or not effectively managed, it can lead to financial strain. Certain types of restaurants tend to have...
by Geoffrey Purkis | Nov 14, 2023 | Uncategorized
While the majority of taxes cannot be eliminated through bankruptcy, some can. The bankruptcy experts at Arietta Law can examine your case to see if your tax debt can be eliminated. Though not simple, filing for Chapter 7 bankruptcy and finding out if your debts...
by Geoffrey Purkis | Oct 11, 2023 | California Bankruptcy
Since 2011, bankruptcy filings in the Oakland Division of the Northern District of California have been steadily declining. The Oakland Division includes the counties of Contra Costa and Alameda. To give you some perspective, in 2011 the total number of bankruptcies...
by Geoffrey Purkis | Sep 4, 2023 | Uncategorized
A declared homestead is a legal form that you record with the Registrar-Recorder’s office. A declared homestead protects some of your equity for six months after you sell your home if the following three conditions are all true: You sell your home and buy another home...