Category Archives: Bankruptcy – Business

The Sader Law Firm can help businesses file for Chapter 7 and 11 bankruptcy to restructure and erase debts.

Neil Sader, Brad McCormack Recognized in 2023 Best Lawyers in America Guide

Sader Law Firm is pleased to announce that Managing Member Neil Sader and Member Brad McCormack were honored in the 2023 Best Lawyers in America, a leading U.S. News & World Report-sponsored peer review guide honoring attorneys. Sader and McCormack totaled three honors on behalf of the firm. Sader claimed honors for Litigation – Bankruptcy for a third straight year and Creditor Debtor Rights/Insolvency and Reorganization for a first time. McCormack was recognized for Creditor Debtor Rights/Insolvency and Reorganization. It’s his first Best Lawyers honor. Best Lawyers’ 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, and all recognition is based on peer review. Since 1984, Sader has…
Read More »

Posted in Bankruptcy, Bankruptcy - Business, Firm News | Comments Off on Neil Sader, Brad McCormack Recognized in 2023 Best Lawyers in America Guide

McCormack earns recertification as Business Bankruptcy Specialist

Sader Law Firm is pleased to announce that partner Bradley D. McCormack recently received recertification as a Business Bankruptcy Specialist from the American Board of Certification (ABC) Standards Committee. He will now be certified through 2026. ABC offers separate certification programs in business bankruptcy, consumer bankruptcy and creditors’ rights law. The certification is designed to recognize lawyers who have met discrete, rigorous and objective standards. Brad joined The Sader Law Firm in 2007, and he currently focuses his private practice on bankruptcy, including Chapter 11 bankruptcy, as well as commercial real estate and commercial litigation. He has extensive litigation experience in state and federal courts and also handles debtor and creditor issues in Kansas and both the Western and Eastern Districts of Missouri.

Posted in Bankruptcy, Bankruptcy - Business, Firm News | Comments Off on McCormack earns recertification as Business Bankruptcy Specialist

Potential changes on the horizon for bankruptcy eligibility

By BRADLEY D. McCORMACK A common question many people ask when contemplating bankruptcy is: “Do I have too much or too little of debt to file?” As a general rule, there are no debt limits that prevent a filing; you can always file for bankruptcy.  The question is which type of bankruptcy do you qualify for because there are limits for specific versions of bankruptcy.  As it stands now, the limits are: Chapter 7 (individual/company liquidation) – No limits Chapter 13 (personal reorganization) – $1,257,850 in secured debt, $419,275 in unsecured debt Chapter 11 (corporate reorganization) – No limits Subchapter V Chapter 11 (Small Business Reorganization Act – $7.5 million) The only recent change to the limits affected the Subchapter V Small Business cases. When first addressing bankruptcy and the COVID-19 Pandemic in March of 2020, Congress increased the Subchapter V debt limit from $2.7 million to $7.5 million through…
Read More »

Posted in Bankruptcy, Bankruptcy - Business, Consumer Credit | Comments Off on Potential changes on the horizon for bankruptcy eligibility