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Posts tagged "Business bankruptcy"

Texas lawmaker's case shows personal side of business bankruptcy

A lot of individuals in Texas have faced the quandary of whether to file for bankruptcy in recent years. As readers of this blog likely know, the typical forms of bankruptcy pursued by individuals are Chapter 7, which involves debt relief through the liquidation of all but exempt personal assets to pay off creditors, or Chapter 13, which involves obtaining court approval of a plan that repays a portion of unsecured debt over a set time frame and sees the balance erased at the end of that time horizon.

Hostess bankruptcy: From Chapter 11 to Chapter 7?

Crowds of people are hitting grocery stores. Instead of buying preparations for Thanksgiving meals, however, they are buying Twinkies. Last week, Hostess declared that it would need to liquidate and could not continue its Chapter 13 bankruptcy plan.

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