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...