Susie’s Deals

An Ontario-based discount clothing retail company, Susie’s Deals, filed for Chapter 11 bankruptcy protection in April 2011.  The company has been closing stores, including stores in Anaheim, Fullerton, and Orange County – all in California. “The debtor has closed unprofitable locations and will continue to analyze operations to potentially close additional locations which are not […]

Ending a Business

When a small business is not doing well, or when its owners want to start another chapter in their lives or careers, there are many ways to get out of a business – liquidate, merger, bankruptcy. In evaluating which route to take, the entrepreneur might first review the business’ debts. The liabilities a business has […]

Copyright Registration Can Turnaround a Business Close to Bankruptcy

Copyright registration is a way to protect intellectual property. When a business is not doing well and close to bankruptcy, protecting intellectual property can turnaround the company. In Apple Inc. v. Psystar Corp., (U. S. Court of appeals, 9th Circuit, Case No. 10-15113, Apple originally brought action against Psystar, a small computer manufacturer, for copyright […]

363 Asset Sales

Companies in financial distress are evaluating asset sales to save a business in stress or money to keep people employed. Under Bankruptcy Code Section 363(b), an asset sale may be conducted outside of a reorganization plan. A bankruptcy sale has the benefits of transferring title to assets clear and free of any interest in the […]

Conversion or Dismissal

A Chapter 11 case in New York starts with the filing of a petition with the bankruptcy court serving the area where the debtor lives. Each court has its own personality because the judges and trustees are different. Judge vacancies may create anxiety on court procedures and the number of cases on calendars with creditors, […]