American Airlines plans to ask the judge in their federal bankruptcy case for clearance to throw out the union contracts if attempts to reach cost-cutting agreements fail, according to the Denver Post. The lead bankruptcy attorney for the airline has indicated that the airline and union have negotiated in good faith, but union officials have said that they believe the company has intended to ask for the contracts to be thrown out from the start. Federal law allows for the company to throw out the union contracts as long as it first tries in good faith to negotiate with the union for a lower-cost deal, and can show that they need the financial relief. The pilots, flight attendants, and ground workers unions have all been expecting the company, which filed for bankruptcy in November, to ask for relief from the contracts.
Are you a small business owner who is struggling to keep your doors open in a poor economy? Contact a Parker bankruptcy lawyer to discuss your legal options.
The news often reports on bankruptcy actions for celebrities and huge corporations, such as airlines and auto manufacturers, but it is important to understand that bankruptcy can also be a way to keep struggling small businesses operating while they get back on track. There is a belief by many people that bankruptcy automatically indicates that the business is closing; in reality, the goal of a chapter 11 bankruptcy is to provide financial relief by reorganizing debts and other finances in order to make it possible for the business to keep its doors open. The benefit to creditors is that they are more likely to recover some of the money they are owed than if the business closes, and the business obviously benefits by staying afloat.
If your business has been struggling with bills and debt, bankruptcy may be an option to help keep your doors open. Bankruptcy law is extremely complicated, and you need a dedicated Parker bankruptcy lawyer to explain your options, and help you understand and decide whether it may be the best option for you. Brian Daniel is an experienced bankruptcy lawyer who can guide you through the entire process, and help you keep your doors open. For more information and a FREE CONSULTATION contact Brian today at (303)951-0233.
In its ongoing coverage of Tom Martino’s bankruptcy proceedings, the Denver Post reports that an airplane hangar that he owns is going to be sold publicly as part of the liquidation of assets. The Post reports that Mr. Martino has objected to the sale of the hangar, but under his Chapter 7 bankruptcy, the court appointed a trustee, who oversees the asset liquidation. Mr. Martino’s attorney has indicated that he has settled a number of his debts, and believes that the sale of the hangar should not be necessary, but according to Judge Michael Romero, because the proceedings are Chapter 7 bankruptcy and not Chapter 11, the individual does not have control over the liquidation process. Most of the debts involved resulted from real estate deals that did not come out the way he had hoped with the poor economy.
Are you considering bankruptcy for a fresh financial start? Contact an experienced Denver bankruptcy attorney to discuss all of your options.
Bankruptcy is an extremely complicated area of law. In many cases, bankruptcy may be the best solution to growing financial problems, and a way to get a fresh start, but knowledge is key. Anyone who is considering bankruptcy needs to educate him or herself as much as possible on the alternatives, the process, and what to expect. There are a lot of myths out there about bankruptcy, some of which make it seem like a better option and some make it seem like a worse option than it in fact is. Anyone heading for a legal process as potentially life-changing as bankruptcy should do so with eyes open, and the best possible information about what will happen during the proceedings.
If you are considering bankruptcy as a solution to financial problems, contact an experienced Denver bankruptcy attorney to discuss your options. Brian Daniel has helped a number of families and individuals to get a new start, and get control of their finances. Brian will make sure that you have the information you need to make a decision, and has the skills and knowledge to guide you through the process as smoothly as possible. For more information and a FREE CONSULTATION, contact Brian Daniel today at (303)951-0233.
Casa Bonita has been a beloved restaurant amongst Coloradans since it was built in 1974. It is highly recognized within the state and has even been featured on popular television shows. It came as a shock to many when it was announced that the colorful restaurant had recently filed for bankruptcy. According to 9 News, Casa Bonita’s parent company, Star Buffet, had filed for chapter 11 bankruptcy. Chapter 11 bankruptcy is available to every business and permits the reorganization required under the bankruptcy laws of the United States. Chapter 11 bankruptcy also allows the organization to remain in control of its business operations. Because of this, Casa Bonita will remain open to the public and continue normal business operations. Casa Bonita is the only restaurant that Star Buffet owns in Colorado but they own 32 restaurants nationwide.
Has your business been affected by the economic downturn of our society? Contact a Parker chapter 11 bankruptcy attorney to further discuss your options.
With the economy being the way it is today, everyone is more cautious about their business finances. According to the United States Courts website, in 2010 the total number of chapter 11 bankruptcies filed was around 13,700. Of those filed, around 11,000 were businesses filing for chapter 11 bankruptcy. Knowing that you have options when deciding your next move is important and filing for chapter 11 bankruptcy is an option that should be considered.
If your business is suffering and you are considering bankruptcy as an option then you need the dedicated services of a professional Front Range chapter 11 bankruptcy attorney. Bankruptcy seems to be a forbidden topic in our society and is often misunderstood. Filing for bankruptcy does not mean your business is irresponsible, many businesses are able to come back from a processed bankruptcy claim. Filing for bankruptcy is a difficult and often a confusing process. Let the experience of chapter 11 bankruptcy attorney Brian Daniel help you make your decision less stressful. For more information and a FREE CONSULTATION, contact Brian Daniel at (303)951-0233.
There are very few people who don’t feel the effects of the economic downturn over the past few years, but one might think that the owner of a popular pizza franchise would be able to weather the storm. 9News.com reports that, in an attepmt to do just that, PJCOMN Acquisitions, Inc, the owner of 72 Papa John’s Pizza franchises in Colorado and Minnesota, has filed for Chapter 11 bankruptcy. The company, which owns 40 Colorado Papa John’s locations, has had its assets frozen by court order, including an employee payroll account. The employees are hopeful for an order that the company’s Miami-based attorney expects to come at any time allowing the company to pay them. In addition to the bankruptcy filing, PJCOMN is facing litigation from many of their drivers over issues of wages, and has filed suit against Papa John’s International. Papa John’s International has called this suit frivolous.
Bankruptcy proceedings can become extremely complicated; if you are considering bankruptcy, you need the counsel of a Colorado bankruptcy attorney. In the past few years, a large number of companies have filed for bankruptcy in order to reorganize, and in hopes of saving their businesses. Some people may have a perception that filing for bankruptcy is what a company does as they go out of business, but in fact many businesses are successful at using Chapter 11 bankruptcy as a tool for keeping their doors open. In the case of a company that owns a number of locations of a business, bankruptcy can help to at least keep some locations open.
If you are considering bankruptcy for your business, it is crucial that you speak with an experienced Colorado bankruptcy lawyer. Brian Daniel is a bankruptcy lawyer who has worked with many Front Range businesses and individuals, and can help you understand the process as you work through it. For more information, and a FREE CONSULTATION, contact Brian at (303)951-0233. Brian can be there to help your business during these tough times.
Nine months ago, a Colorado based company filed chapter 11 bankruptcy. Local Insight Media Holdings Inc., owner of the Berry Company, filed for bankruptcy, but is hoping to make a comeback by the end of the fourth quarter according to the Business Journal. The company will emerge with more than 90% of their debt paid off and start off the quarter in a great position. The Berry Company has generated tremendous sales since the early 1900’s, and plans to regain both their image and their clients. President and CEO of Local Insight, Scott Brubaker, states that they are now in a better position to succeed and become a strong company again.
Many companies that have filed for bankruptcy emerge from it and come back stronger than ever. They have learned from their mistakes and become aware of the warning signs. According to Forbes, many companies use their bankruptcy to solve their company’s problems and to reorganize their organization into a stronger business. Bankruptcy is not the only option, but Colorado businesses who are struggling should consider it.
If your business has filed for bankruptcy or is considering bankruptcy, then you need a Parker bankruptcy lawyer on your side. Parker bankruptcy lawyer, Brian Daniel, will help you protect your business and determine if bankruptcy is right for you. For more information on bankruptcy please contact our office at 303-951-0233 for your Free Consultation. Let our Parker bankruptcy attorneys help you and your business during this difficult time.
Restaurants Perkins and Maria Callender’s have filed for bankruptcy earlier this month and have begun to close many of their restaurants nationwide. According to the Denver Post, four Perkins restaurants in the Colorado area have closed due to bankruptcy issues, including all three restaurants in Colorado Springs. There are still nine remaining Perkins locations in the Colorado State area. Perkins filed for a Chapter 11 bankruptcy and is hoping that this opportunity will allow them to improve the restaurants they have left. Maria Callender’s has already closed 31 locations across the board and the remaining Colorado locations do not seem to be effected.
The current state of our economy has led to a drastic number of companies filing for bankruptcy. Many companies are using this opportunity to strengthen the places they still have left and rebuild their company’s goals, and bankruptcy offers them a chance to do this. Companies can file one of three types of bankruptcy, a Chapter 7, 11, or 13. It is important for companies to review all of their legal and bankruptcy options before deciding which path to pursue.
If you or a loved one is considering filing for bankruptcy in Denver, Aspen, Colorado Springs, or anywhere in the State of Colorado, then you need a dedicated Colorado bankruptcy attorney to help assist you through this difficult time. For more information and your FREE CONSULTATION contact Brian Daniel at 303-951-0233. Our skilled and experienced Colorado bankruptcy lawyers are ready to help you.
According to the Flume, the chairman of the board of the Hartsel Fire Protection District has again filed for bankruptcy. This makes it the second time in six years that Herbert M. Burton, Sr. and his wife have filed for bankruptcy in Denver. On February 4th, the Burtons filed for Chapter 13 bankruptcy, listing about $273,000 in assets and $267,000 in liabilities. They could not file for Chapter 7 bankruptcy, since they already filed for Chapter 7 bankruptcy in 2005, and by law, a person must wait 8 years before filing for Chapter 7 bankruptcy again.
For many who live in Denver and throughout the State of Colorado, bankruptcy is a viable option to help get out of spiraling debt and crushing financial burdens. But what exactly are the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy? One of the main differences is the way debts are handled and paid off. Chapter 13 bankruptcies allow filers to get out of credit card or mortgage debt by setting up a schedule of payments with reasonable interest rates and pay back amounts. Chapter 7 bankruptcies, on the other hand, reduce assets to cash and make distributions to creditors.
This is just one of the differences between Chapter 7 bankruptcies and Chapter 13 bankruptcies. An experienced Colorado bankruptcy attorney can help you understand all of the differences between the two, so you can choose the legal pathway that is right for you and your family.
If you are considering bankruptcy in the State of Colorado, it is important to discuss your situation with experienced and veteran Colorado bankruptcy attorney, Brian Daniel. Brian Daniel will be able to assist you in making a financial decision that is best for you, your family, and your future, so you can safeguard your assets and reduce your liabilities. Contact Brian Daniel today for a Free Initial Consultation at (303) 951-0233.
According to Bloomberg News, The city of Colorado Springs is asking for a change of venue in the reorganization of the Banning Lewis Ranch community. The case is currently being heard in Delaware, but the city of Colorado Springs has filed a motion to have the proceedings held in Colorado, where the property is located. Banning Lewis filed chapter 11 in late October to restructure debt on the 21,000 acre project northeast of Colorado Springs. The city contends that the case does not belong in Delaware because the property is in Colorado as well as the management company and majority of the creditors. The petition said that property assets are worth more than $50 million while debt exceeds more than $100 million.
It appears that 2010 is going to be a bad year for business bankruptcy filings. According to Abiworld.org, there were a total of 60,837 businesses that filed for bankruptcy in 2009. So far for 2010, there have been 43,016 business filings in the United States.
Have you filed for bankruptcy? A knowledgeable Parker, Colorado bankruptcy lawyer can provide valuable guidance through the bankruptcy process and help you to maintain most or all of your assets. If you are facing a complicated legal issue, reach out to The Daniel Law Firm. We take great pride in serving clients all over Colorado. Let us discuss with you the best strategy for moving your case forward in both a positive direction and timely manner. Call us today at (303) 951-0233 and receive a free consultation.
