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Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
Louisiana’s Oldest Bankruptcy Law Firm
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chapter 7 Archives

Chapter 7 set approximately one year after AAF was founded

The American Alliance Football league was started in 2018. There are currently eight teams in the league. However, an announcement has been made to let fans in Louisiana and other football enthusiasts know that serious financial problems has prompted the control owner to dissolve the AAF and file for Chapter 7 bankruptcy. 

Chapter 7 will discharge lawsuits, says bakery owner

Louisiana business owners understand how challenging it can be to stay afloat during economic turbulence or problematic situations involving workplace accidents. These two issues are perhaps the two biggest factors in a Chapter 7 bankruptcy that was recently filed in another state. The situation involves a bakery that has been in business for nearly 100 years.

Chapter 7 bankruptcy: Make sure you qualify before you file

Many Louisiana residents will likely be among others throughout the nation who face serious financial crises in the post-holiday season. Fortunately, there are typically numerous options to help those in need obtain immediate debt relief and lay the groundwork to get their finances back on track. In order to apply for relief, such as Chapter 7 bankruptcy, however, one must first meet pre-application qualifications.

Management company files for Chapter 7

Many Louisiana business owners facing financial difficulties seek debt relief through bankruptcy when needed. Chapter 7 bankruptcy typically includes a  liquidation of assets. Bankruptcy laws can be complex, so it often helps to seek support from someone well-versed in legal terminology.

Chapter 7 bankruptcy situation leads to customer complaints

A family-run store in another state came upon hard times as online shopping and home delivery grew more popular. At least, that's what a spokesperson for the company recently said. The owners wound up filing Chapter 7 bankruptcy in early September. The events that unfolded after that have affected not only those directly involved but the community at large as well. If a similar problem were to arise in Louisiana, those involved may want to seek outside support. 

Battery manufacturer preparing for Chapter 7 bankruptcy

When a business in Louisiana or elsewhere realizes that significant partnerships it was banking on to succeed are not going to happen, it may be a sign that the time has come to close up shop. Financial issues are often at the root of such problems. Many business owners realize the value of wiping the slate clean by filing for Chapter 7 bankruptcy. Some eventually re-open their doors once they have restored financial stability.  

Real estate developer chooses Chapter 7 for debt relief

As in most other states, the real estate market in Louisiana has its ups and downs. For commercial property owners, this can sometimes cause financial crises that are difficult to resolve. In fact, some real estate investors, such as the developer of a planned luxury condominium complex in another state, wind up seeking immediate debt relief, such as Chapter 7 bankruptcy, when they can't get things back on track. 

Deal falls through, company files Chapter 7 bankruptcy

Louisiana companies often use mergers or acquisitions to rebound from serious financial problems -- blending the companies' multiplies resources, which, in turn, can often help get things back on track. It doesn't always work out that way, however, as made evident by a recent situation involving Rosetta Genomics and another company. After a planned merger deal fell through, Rosetta filed for Chapter 7 bankruptcy.  

Forced Chapter 7 bankruptcy may impact more than one business

Most Louisiana business owners understand that any number of issues can financially make or break a company. Many business owners try to expand their earning potentials and boost their overall productivity and profitability through mergers or acquisitions. Doing so often helps struggling businesses stay afloat -- often, but not always. Others wind up filing Chapter 7 bankruptcy to obtain debt relief and start afresh.                 

Bus company files Chapter 7 when liabilities outweigh assets

In Louisiana and other states bankruptcy is a responsible option to achieve debt relief. Every situation is unique and circumstances must be carefully reviewed before a decision can be made regarding whether Chapter 7 or Chapter 13 is the best choice. Each includes various eligibility requirements that must be fulfilled in order to qualify.  

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