Category Archives: Bankruptcy – Business
The Sader Law Firm would like to congratulate Managing Member Neil Sader on earning repeat honors in the 2022 Edition of The Best Lawyers in America, a leading U.S. News & World Report-sponsored peer review guide honoring attorneys. He is recognized as a leading Litigation – Bankruptcy practitioner in Kansas City, Missouri. Recognition by Best Lawyers is based entirely on peer review. The organization’s methodology is “designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area.” A person receives recognition from Best Lawyers for his or her talent in the legal industry within specific practice areas. Since 1984, Neil has litigated a wide variety of business- and bankruptcy-related matters throughout state, federal and bankruptcy courts in Missouri and Kansas. He takes pride in how he and The Sader Law Firm have built a…
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As a Bankruptcy Lawyer here in Kansas City I am often being asked by potential clients “should my business be considering Chapter 11 Bankruptcy during these very difficult times?” As one who has practiced in this area of the law since the 1980’s there are several basic guidelines any business owner should use to decide whether a consultation with a bankruptcy attorney is needed, even in good economic times. Given the Pandemic and disruption to the business cycle, however, this is now a good time for many businesses to evaluate whether these factors apply to its situation today. Below are among the most important indicators of whether Chapter 11 can be of help. Is the collateral pledged by your business toward its Bank Loan now worth less than the amount owed? This is a factor in most every business Chapter 11, however, it is especially relevant now. For example, if…
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The novel coronavirus continues to spread across the United States. Although shutdowns are not in effect nationwide, many companies are seeing a drop in regular business. Some of these companies recently filed for Chapter 11 bankruptcy. Although individuals can file under this Chapter, Chapter 11 cases are often called business bankruptcies. CEC Entertainment, the parent company of Chuck E. Cheese, recently filed for Chapter 11 bankruptcy. The company also owns Peter Piper Pizza, a separate pizza chain with locations on the West Coast and across the Southwest United States. Other well-known companies are feeling significant financial pressure due to the pandemic. GNC, a nationwide chain that sells health products and nutritional supplements, is also filing for Chapter 11 bankruptcy. The company said it plans to close more than 1,200 of its stores. Other large companies sought bankruptcy protection over the past several months. JCPenney, 24-Hour Fitness, Hertz, Gold’s Gym, J….
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