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Life of bankruptcy

Life of Bankruptcy

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Is Bankruptcy is the right move for your business? Follow along with the Timeline of a Bankruptcy. Learn about preventative measures, the difference between Chapters and how to protect yourself and your assets during the process. Breaking it down into four simple phases, this timeline will offer a clearer, big-picture of the bankruptcy process. Let us help demystify the process and bring clarity to the challenges and opportunities that confront you.

 

To determine which stage you are in the Life of Bankruptcy, hover over the below and click for more insights.

Prebankruptcy - restructuring Restructuring

Restructuring

All the king's horses...

A business confronted with a sudden (or not so sudden) financial distress need to assess its options and seek a way forward

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Phase I - Planning for Bankruptcy Phase I

Phase I

Houston We Have a Problem!

A business or individual begins to confront the very real implications of increased debt and persistent legal proceedings. Choices must be made to sustain the business and avoid a bankruptcy filing.

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phase II - filing for bankruptcy Phase II

Phase II

We're from the Government and we are here to help.

The path has been chosen, bankruptcy, planning need to occur to choose a path forward and develop a vision of life after financial distress.

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bankruptcy chapter 7 -phase iiia Phase IIIa

Phase IIIa

Thanks for the memories.

Chapter 7, the assets will be liquidated and distributed to satisfy claims of creditors. The debtor business will cease to exist.

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bankruptcy phase IIIb - chapter 11 Phase IIIb

Phase IIIb

We can fix this...

Chapter 11, the business with restructuring or be sold as a going concern, ownership may be changed, and obligations resolved. The business will try to emerge with a fresh start.

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Phase IV of Bankruptcy Phase IV

Phase IV

Exhale

The bankruptcy is over a fresh start is at hand, the business can move forward and prosper.

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Ancillary Issues in Bankruptcy Ancillary Issues

Ancillary Issues

Just when you thought it was safe…

Bankruptcy and restructuring is a legal process with a foundation in equity, there are opportunities and pitfalls for all concerned as a case progresses.

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Restructuring

A business confronted with a sudden (or not so sudden) financial distress need to assess its options and seek a way forward.

Bankruptcy Cliff: Bankruptcy Alternatives

In this episode of Perspectives from the Bankruptcy Cliff, Stephanie Danos interviews Ken DeGraw of Withum’s Forensic and Valuation Services group about bankruptcy alternatives.

before bankruptcy tips for lender planning Before Bankruptcy: Tips For Regrouping With Your Lender
small business filing for bankruptcy Filing for Bankruptcy: Considerations for Small Businesses
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Phase I - Planning

A business or individual begins to confront the very real implications of increased debt and persistent legal proceedings. Choices must be made to sustain the business and avoid a bankruptcy filing.

Bankruptcy Cliff:

Bankruptcy Filing The Bankruptcy Process Part I: Planning for the Filing
bankruptcy process - chapter 11 Top Questions on Bankruptcy for Small Businesses
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Phase II - Filing

The path has been chosen, bankruptcy, planning need to occur to choose a path forward and develop a vision of life after financial distress.

Bankruptcy Cliff: Debt Discharge and the Automatic Stay

In this episode of Perspectives from the Bankruptcy Cliff, Sareena Sawhney interviews John Liska of Withum’s Forensic and Valuation Services group about debt discharge and the automatic stay.

Bankruptcy Cliff: Pre-Bankruptcy Planning

In this episode of Perspectives from the Bankruptcy Cliff, John Liska interviews Missy Urban of Withum’s Forensic and Valuation Services group about pre-bankruptcy planning.

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Phase IIIa – Chapter 7

Chapter 7, the assets will be liquidated and distributed to satisfy claims of creditors. The debtor business will cease to exist.

Chapter 7 Bankruptcy Filing Cabinet Bankruptcy Process Part III - The Process, Chapter 7

Chapter 7 Bankruptcy ends in liquidation. It is a reasonably quick process concluding in the filer’s discharge (individuals), meaning their debt, and their business no longer exists.

Learn More About Chapter 7 Bankruptcy

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Phase IIIb – Chapter 11

Chapter 11, the business with restructuring or be sold as a going concern, ownership may be changed, and obligations resolved. The business will try to emerge with a fresh start.

Planning for bankruptcy Customer Bankruptcies and Preference Claim

Chapter 11 Bankruptcy ends in a company’s reorganization. It is typically a lengthy, tedious and costly process that is usually reserved for big businesses.

Learn More About Chapter 11 Bankruptcy

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Phase IV – Discharge and Emergence

The bankruptcy is over a fresh start is at hand, the business can move forward and prosper.

Bankruptcy Cliff: Emergence from Bankruptcy

In this episode of Perspectives from the Bankruptcy Cliff, Ken DeGraw interviews John Liska of Withum’s Forensic and Valuation Services group about emergence from bankruptcy.

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Ancillary Issues

Bankruptcy and restructuring is a legal process with a foundation in equity, there are opportunities and pitfalls for all concerned as a case progresses.

Bankruptcy Cliff: 

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For questions or further assistance, please contact a member of Withum’s Forensic and Valuation Services Group.

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