May 17th, 2011
According to the Wall Street Journal, Colorado’s Brightwater Club (formerly known as Clearwater Development) filed for Chapter 11 bankruptcy in April. While the half built neighborhood, located at the foot of the Colorado Mountains, boasts the fifth-longest course in the country, that wasn’t enough to keep the company from owing over $100 million dollars. The development has 50 built homes, 65 partially finished homes, and numerous lots.
Why file Chapter 11?
By filing for Chapter 11 bankruptcy, it allows the debtor to restructure their company and their debts in order to get back on track, rather than liquidation. The debtor can acquire financing and loans, reject or cancel contracts, and delay most litigation against the debtor. Another added benefit to filing for Chapter 11 bankruptcy is that business owners can continue to operate their businesses while getting their debts in order.
If you or someone you love is considering bankruptcy as an option, it is important to consult with a Parker bankruptcy lawyer immediately. Parker bankruptcy lawyer, Brian Daniel, has years of experience handling bankruptcy cases throughout the State of Colorado. For a free review of your case, call Brian Daniel at (303) 951-0233 today.
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April 30th, 2011
As Parker, Colorado, and the rest of the state slowly grinds through the “jobless recovery,” workers in some of the once-wealthiest areas are being forced to take refuge in bankruptcy. As highlighted in a recent KDVR Fox 31 story, many hardworking Douglas County residents are struggling through the difficult decisions of bankruptcy, even in an area whose residents enjoy a median annual income of about $100,000, one of the nation’s highest.
According to Federal Court statistics for Colorado, there were more than 7,000 new bankruptcy filings in our state during the first three months of 2011 alone. And, from anecdotal reports in different communities, it seems that bankruptcies are increasing among our region’s middle-class families.
Colorado bankruptcy attorneys have worked diligently to educate state residents regarding the availability of debt relief for people who deserve to have a second chance at the American Dream. In most cases, a savvy Parker bankruptcy attorney can help protect assets and work to neutralize or reduce debt so that people financially crippled by the recent recession can receive the relief they deserve.
If you or a family member suffers from debt that negatively affects your life, an experienced Parker bankruptcy lawyer can help you plan for a better financial future and remove your burden of stress, by helping you shed unjustified debt. To take the first step toward debt relief, call Parker bankruptcy attorney, Brian Daniel, today at (303) 951-0233 to schedule your free consultation.
Tags: bankruptcy, colorado, Douglas County, lawyer, parker, Parker Bankruptcy Attorney
Posted in Chapter 11, Corporate Bankruptcy, Parker | Comments Off
March 19th, 2011
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.
Tags: bankruptcy, chapter 13, chapter 7, colorado, parker
Posted in Chapter 13, Chapter 7, Parker, Personal Bankruptcy | Comments Off
February 21st, 2011
9 News has reported that the giant bookseller, Borders, has filed for bankruptcy protection. The bookseller has been troubled by debt for years and has struggled to find ways to compete in a “rapidly changing industry.” Borders will close 200 stores in the next several weeks, including 6 of its stores in Colorado. Things may get worse for the 40-year-old company. It was unable to “reach an agreement with creditors and file a prepacked bankruptcy,” which suggests to at least one bankruptcy expert that its creditors don’t believe the company will be able to turn the corner in the near future. Borders hasn’t reported a profit in the last 4 years and will face stiff competition from superstores like Walmart and Costco as well as a serious decrease in consumer spending on books.
According to the Office of US Courts, bankruptcy involves a debtor proposing a “plan of reorganization to keep its business alive and pay creditors over time.” Chapter 11 is primarily used by businesses but may also be used by individuals to create a plan for paying creditors. As the above explanation suggests, the purpose of Chapter 11 for a company like Borders is to payoff debts and ultimately keep the business operational. A bankruptcy procedure like this is a complicated matter involving the courts and requires the expertise of a bankruptcy attorney or firm.
Do you or someone you know have questions only a bankruptcy expert can answer? Call an experienced Colorado bankruptcy lawyer today. Brian Daniel has years of experience working on bankruptcy cases in Colorado and he will put his expertise of the law to work for you. For a free review of your case, call his office today at (303) 951-0233.
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Tags: Borders files for bankruptcy
Posted in Chapter 11, Corporate Bankruptcy, Parker | Comments Off
February 8th, 2011
One of Colorado’s largest electronics retailers is set to close its doors. TheDenver Post is reporting that Ultimate Electronics asked a federal bankruptcy judge on Friday to allow the company to conduct store closing sales at all of their 46 locations nationwide. Ultimate Electronics filed for Chapter 11 bankruptcy protection on January 26 in U.S. Bankruptcy Court. Ultimate Electronics said that it was forced to close because it could not secure any financing to keep its operations going. Ultimate currently owes GE Capital Corp. $64.8 million. The company, which employs about 1,500 people, filed for Chapter 11 bankruptcy in January of 2005, when it was eventually purchased by Mark Wattles.
According to Wikipedia.com, between 2007 and 2009, 23,955 businesses in the United States filed for Chapter 11 Bankruptcy. During this same period, 1,792,671 companies filed for Chapter 7 liquidation.
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 andreceive a free consultation.
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Tags: attorney, Brian Daniel, colorado, Colorado Attorney, Colorado Bankruptcy Lawyer, lawyer, Parker Attorney
Posted in Chapter 11, Corporate Bankruptcy, Parker | Comments Off
January 27th, 2011
Fox 31 (KDVR) has reported that Ultimate Electronics, a Colorado based company, filed for Chapter 11 bankruptcy Wednesday. Its parent company, Ultimate Acquisitions, filed bankruptcy papers in Delaware and released at statement that based the filing on a “significant downturn” in sales at some stores as well as the refusal of “some wholesalers to supply merchandise on credit.” At the time of the filing, the company, which bases its operations out of Thornton, Colorado, owed its largest secured creditor nearly $65 million. The company hopes to streamline operations at its 46 stores, 9 in Colorado, and hasn’t said which stores, if any, will have to close.
The Administrative Office of the U.S. Courts explains that Chapter 11 bankruptcy involves a debtor proposing a “plan of reorganization to keep its business alive and pay creditors over time.” It is primarily used by businesses to create a plan for paying creditors. The purpose of Chapter 11 is to pay off debts and ultimately keep the business operational. A bankruptcy filing like the one filed by Ultimate Electronics is a complicated matter that requires the expertise of a bankruptcy attorney.
If you own a business that is overwhelmed with debt and are thinking of filing for bankruptcy, you need the expertise and experience of a Parker bankruptcy lawyer on your side. Brian Daniel has years of experience working on bankruptcy cases in Colorado and he will put his expertise of the law to work for you. For a free review of your case, call his office today at (303) 951-0233.
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Tags: Ultimate Electronics files for Chapter 11
Posted in Chapter 11, Corporate Bankruptcy, Parker | Comments Off
December 3rd, 2010
The Denver Post is reporting that several children were taken to the hospital after their school bus crashed Thursday afternoon. The accident happened at around 4:30 p.m. at Colorado Boulevard and 29th Street when the bus and a mini-van collided. Twenty-nine children were on the bus at the time of the collision. Seven of those students were taken to the hospital with minor injuries for observation.
Bus accident statistics are limited; however, the National Highway Traffic Safety Administration‘s Fatality Analysis Reporting System data for 1993 to 1997 shows that 141 buses were involved in accidents that resulted in the deaths of 21 occupants and injuries to 442 occupants.
If you or a loved one has been injured in an accident, contact an experienced Parker personal injury attorney at 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.
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Tags: accident, attorney, Brian Daniel, car, colorado, Colorado Attorney, Colorado Personal Injury Attorney, Parker Attorney, Parker Personal Injury Attorney, personal injury attorney, school bus accident
Posted in Auto Accident, Car Accident, Parker, Personal Injury | Comments Off
November 24th, 2010
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.
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Tags: attorney, Brian Daniel, colorado, Colorado Attorney, Colorado Bankruptcy Lawyer, Colorado Personal Injury Attorney, Filing for Bankruptcy, Parker Bankruptcy Attorney, Parker Personal Injury Attorney
Posted in Chapter 11, Chapter 13, Chapter 7, Corporate Bankruptcy, Personal Bankruptcy | Comments Off
October 25th, 2010
The Denver Business Journal has reported that Douglas County based EchoStar Corp “will become the majority owner of the reorganized TerreStar Networks if a judge approves the satellite company’s bankruptcy reorganization.” TerreStar filed for reorganization on October 19th in New York. The company cited “more than a $1 billion in debt and no substantial revenue.” EchoStar has loaned millions to the struggling company and has pledged millions more to “backstop” its “emergence from Chapter 11.” At this time, it is not clear how, if at all, TerreStar’s parent company, TerreStar Corp., will be affected by this reorganization. TerreStar is set to launch a nationwide mobile phone service soon and speculation suggests that EchoStar wants in on the mobile phone business. TerreStar’s assets include “one operating satellite, one 95 percent-built satellite and broadcast frequency licenses estimated to be worth more than $300 million.”
Chapter 11 bankruptcy, as explained by the Administrative Office of the U.S. Courts, involves a debtor proposing a “plan of reorganization to keep its business alive and pay creditors over time.” Chapter 11 is primarily used by businesses but may also be used by individuals to create a plan for paying creditors. As the above explanation suggests, the purpose of Chapter 11 for a company like TerreStar is to payoff debts and ultimately keep the business operational. A bankruptcy procedure like this is a complicated matter involving the courts and requires the expertise of a bankruptcy attorney.
If you or someone you know is struggling to payoff business or individual debt and are thinking of filing for bankruptcy, you need the expertise and experience of a Colorado bankruptcy lawyer on your side. Brian Daniel has years of experience working on bankruptcy cases in Colorado and he will put his expertise of the law to work for you. For a free review of your case, call his office today at (303) 951-0233.
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Tags: Chapter 11, Colorado Bankruptcy Lawyer, Douglas County Bankruptcy, EchoStar and TerreStar, Filing for Bankruptcy, Parker Bankruptcy Attorney, TerreStar Bankruptcy
Posted in Chapter 11, Corporate Bankruptcy | Comments Off
September 27th, 2010
A Cherry Creek bus driver was cited early this morning for “failing to yield the right of way.” The driver’s failure resulted in an accident that left two students injured. According to a report by The Denver Post, the students were not seriously injured and both were treated and released at the scene. One student, a 17-year-old from Regis High School, was driving a Jeep Liberty that crashed into the bus. The other student was a middle school student who was riding on the bus. It is unclear at this time if the bus driver will be allowed to continue his driving duties.
Thankfully, the school buses many of our children ride on everyday are some of the safest vehicles on the road. Compared to every other vehicle on the road the yellow school bus is the least likely vehicle to be involved in an accident. This means that fewer people are injured and die in accidents involving a school bus. According to a report by the NHTSA that spanned 13 years from 1991-2004, an average of 12 people a year died in school bus related accidents. There simply is no comparison when evaluating death tolls involving any other vehicle on the road.
To say that yellow school buses are the safest vehicles on the road is not to say that they aren’t ever involved in accidents. As the account of the accident above attests, it is possible for a child to be injured in a school bus accident. If your child has been involved in an accident while riding a school bus, you need to speak to a Parker personal injury attorney about all your legal options. Parker attorney, Brian Daniel, has the knowledge and experience you need. Contact his offices today at (303) 951-0233.
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Tags: attorney, Brian Daniel, Colorado Attorney, Colorado Personal Injury Attorney, lawyer, Parker Attorney, Parker Personal Injury Attorney, personal injury attorney, school bus accident
Posted in Auto Accident, Car Accident, Parker, Personal Injury | Comments Off
