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Bankruptcy May Be Your Option

July 2016 Archives

Energy company seeks Chapter 11 bankruptcy protection

There are a variety of factors that contribute to the overall financial situation of a company in Oklahoma and across the country. While success can often be due to quality, hardworking employers, market conditions can also contribute to a company's overall success. Unfortunately, a decrease in oil prices has left hundreds of energy companies struggling. Recently, C&J Energy Services Ltd. has followed the path of multiple other companies and sought Chapter 11 bankruptcy protection.

Passing the means test to file for Chapter 7 bankruptcy

Most people in Oklahoma have plans with certain goals for their lives. Many goals revolve around how they will manage their finances. Despite their plans, some find themselves struggling due to unexpected events, such as job losses or medical conditions. Because these events can have significant financial impacts, some people begin looking at their options in regards to filing for bankruptcy. There are two options that may be the answer to a person's financial woes -- Chapter 13 or Chapter 7 bankruptcy.

Wholesale nursery seeks Chapter 11 bankruptcy

Each business industry in Oklahoma is unique, with individual factors that impact each company's success or struggles regardless of the amount of effort employees put into making it financially successful. For example, bad or unexpected weather may have little impact on an electronics company, while it could be devastating for a nursery. One out-of-state nursery has recently filed for bankruptcy, citing the weather as one of the reasons for its financial struggles.

Chapter 11 filing prevents foreclosure sale

When a company in Oklahoma launches a new business, it likely does so with the ambition that it will be profitable. While money is put into renovating and rebranding, there are often factors in play that a company has little control over that could potentially jeopardize the business's overall success. In fact, one out-of-state company has recently filed for Chapter 11 bankruptcy protection, a filing that narrowly prevented the foreclosure of their property.

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