Bankruptcy Blog - Chapter 11
At Oliveros & O’Brien we are at the leading edge of bankruptcy law and practice. Michael O'Brien is one of only three attorneys in the State of Oregon who is Board Certified as a Consumer Bankruptcy Specialist by the American Board of Certification. He is a frequent speaker at seminars for other attorneys on bankruptcy issues.
We also believe in giving our website visitors and our clients the opportunity to get current, accurate, and practical information about bankruptcy and financial matters. So every week on Monday morning we publish a blog. Their titles and short summaries are listed below, with the most recent one on top. Click on the “More...“ after each one to read the whole blog. Also, if you want to see all of our blogs in a certain catagory, just click on the appropriate one in the column to the right.
Dealing with Creditors When Your Home Equity is Larger than Your Homestead Exemption
March 1, 2010 by Oliveros & O'Brien, P.C.
The last two week’s blogs introduced the Oregon "homestead exemption" and then showed how it works in practice. We described some situations in which this exemption gives only limited protection. This week we show you how we can help you deal effectively with even these situations with the help of the bankruptcy law.
Alleviating the Burden of Business Tax Debts through Bankruptcy—Part 1
February 1, 2010 by Oliveros & O'Brien, P.C.
Just about every struggling business has tax problems. When expenses are very tight, it is very tempting for a small business with a few employees to withhold payroll taxes but then not pay them over to the IRS and the Oregon Department of Revenue. Sole proprietors barely scraping by can’t scrape up the money to make their personal estimated income tax payments each quarter. Then these tax debts grow out of control quickly. Because of the extraordinary collection powers of the IRS and the state, tax debts are often the most immediate and frightening challenge for a business owner trying to figure out what to do.
If it’s Good Enough for Donald Trump’s Casinos . . . Could Chapter 11 Help Save YOUR Business?
September 14, 2009 by Oliveros & O'Brien, P.C.
Trump Entertainment Resorts, Inc., which operates Donald Trump's Atlantic City casinos, filed Chapter 11 bankruptcy last February. Back then Donald Trump gave up his ownership stake in the company. But he recently made an offer to buy back his company, now stripped of about $15 BILLION of debt. Those creditors would receive nothing in the deal. THAT's creative financing.
The news is full of businesses big and small surviving through Chapter 11. Could this strong medicine help your struggling business, too?