Save Your Core Business In Chapter 11 Bankruptcy

How did women’s clothier Chadwick’s emerge from a successful Chapter 11 case? By focusing on its core business and shedding debt. Many companies attempt to grow too fast by pursuing ambitions in the marketplace. Growth almost certainly involves taking on debt as companies add equipment, leases, employees and other infrastructure in order to accommodate the […]

Bankruptcy Buyer’s Remorse: When Debtors Want To Dismiss Their Own Chapter 11 Case

Michael Brown did not seem to be a good candidate for bankruptcy. A prominent Houston hand surgeon, he invented a surgical technique to treat carpal tunnel syndrome and franchised 6 surgical centers in the southwest. His Brown Medical Centers had earned between $25 million to $30 million a year. However, while trying to divorce his […]

Ready For Your Closeup? Steps To Prepare For Meeting The Trustee

The bankruptcy process is filed with obstacles and milestones: hiring an attorney, filling out complicated forms and pulling the trigger to file the case itself. On top of all this is at least one public appearance: meeting with the trustee. In Chapter 7 the trustee’s meeting should follow careful planning and execution. In Chapters 11 […]

Bankruptcy: 9.5 Million Reasons Why The Botticelli Will Stay In New York

Kraken Investments consigned the classic “Madonna and Child” painting by Botticelli to crooked NY gallery owner Lawrence Salander in 2006. The painting is valued at $9.5 million. Kraken, an Israeli company, probably thought it had dotted its “i’s” and crossed its “t’s” when it had Salander sign a consignment agreement agreeing that any disputes would […]

Owner of World’s Most Valuable Poster Suffers Bankruptcy Meltdown

The classic silent film Metropolis by director Fritz Lang thrilled audiences in the 1920s by depicting a fantastic Art Deco image of a future civilization. Only four posters from that landmark film survive and one of them found its way into the hands of collector Kenneth Schacter, according to this article from  Schacter apparently […]

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