Many individuals believe that a Chapter 7 or 13 is the only bankruptcy relief available to them. However, a Chapter 11 isn’t only used for corporate restructures, it can allow an individual debtor to take advantage of a meaningful debt restructuring as well. When to Consider Chapter 11 You may be ineligible to file a...Read More

Sbarro, the popular pizza chain, filed Chapter 11 bankruptcy three months ago and has shown that the process can work. The company’s pre-packaged Chapter 11 plan, which reduces Sbarro’s debt by approximately 85%, has been approved and it took effect on June 2, 2014. Moving locations to reduce expenses Sbarro will be moving its company...Read More

South Florida Multispecialty Associates, LLC, with offices located in Miami Beach and Aventura, has filed a voluntary Chapter 11 bankruptcy. The medical practice has 50 employees and reportedly sought bankruptcy protection after a medical malpractice plaintiff won a garnishment on its bank accounts. The medical group was apparently unable to make its first $100,000 payment...Read More

In late 2013, a car-charger maker with a large government contract filed for bankruptcy. Phoenix-based Ecotality, Inc. sought Chapter 11 protection in the United States Bankruptcy Court for the District of Arizona, listing assets of $50 million and debts of $500 million, including a large contract with the Department of Energy. In court papers, Ecotality...Read More