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This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. As is evident from previous sections, chapter 11 bankruptcy cases are often times complex, costly and onerous. Because of this, they rarely succeed in helping small…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. In conjunction with filing a proposed plan, a chapter 11 debtor must also include a disclosure statement. This is an important document in a chapter 11…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The good news for a chapter 11 debtor is that a debtor and its creditors are basically free to agree to any plan that they believe…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The goal of chapter 11 bankruptcy is for a business to become profitable again, maximizing the return to the business’s creditors and owners. Achievement of this…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Filing for bankruptcy involves disclosing debt, or “creditor claims,” on official bankruptcy paperwork. Generally, once a company or individual files for bankruptcy, it may not make…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Filing a chapter 11 bankruptcy allows a company to reject certain contracts that require continuing payment or other performance obligations that may be negatively affecting operations….

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. In chapter 11 cases, the debtor typically continues to operate its business during the bankruptcy case. The debtor may enter into transactions that are in the…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Once a company or individual becomes a chapter 11 debtor, any financing arrangement that the debtor wishes to engage in must be approved by the Bankruptcy…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Because this publication focuses on debtors who wish to continue to operate, the main focus of the discussion on bankruptcy will center on chapter 11 reorganizations….

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. As previously stated, this publication focuses on the needs of a business who wishes to restructure their debts and continue operating. Therefore, the main focus will…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Although an out-of-court restructuring is preferable to filing for bankruptcy in most circumstances, exceptions can arise leading a debtor to determine that an out-of-court restructuring is…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. A. Lacks Sense of Finality An out-of-court restructuring agreement between a debtor and creditor – whether forgiving, reducing, or allowing for repayment in installments – is…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. A. Far Less Expensive Although out-of-court restructuring often involves an attorney, the cost of that attorney will be significantly less than if formal bankruptcy proceedings are initiated. This is…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Similar to debtors, not all creditors are built the same. As businesses consider filing for bankruptcy or otherwise restructuring their debt, creditors should be uniquely advised on their approach…

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. When a business is facing financial difficulties, it must decide whether or not it should engage in discussions with its creditors to try to work out…

This and the following posts have been copied or adopted from First Considerations for the Financially Distressed Business, published through a collaborative effort by the Minnesota Department of Employment and Economic Development Lathrop GPM. Disclaimer to First Considerations for the Financially Distressed Business This publication is intended to alert the reader to legal issues related…

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Fair Labor Standards Act (FLSA) Genetic Information Nondiscrimination Act (GINA) Family Leave Medical Act (FLMA) FTC Act [15 USC §§ 41-58…

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. The following are links to the terms of use of various social media platforms that were effective as of July 1,…

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. This Guide presents a myriad of issues and concerns for a business to consider. What should your business do to comply…

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Twitter tweets, blog posts, LinkedIn profiles, text messages, YouTube videos, email, and any other online content may be considered electronic business…

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. Pitfalls of Advertising by Email, Text Messaging and Online The regulation of advertising generally falls under the Federal Trade Commission’s (FTC’s)…