Lefkovitz & Lefkovitz
Nashville Office 615-686-2279 Cookeville Office 931-400-2218
Serving all of Middle Tennessee's Bankruptcy Needs

May 2016 Archives

When a Chapter 13 bankruptcy payment is late

In some cases, Tennessee debtors who are in the middle of a Chapter 13 bankruptcy may find themselves in situations in which their required payments will be late. This can cause significant stress for debtors, as keeping to the set repayment plan is a condition for successful completion of a Chapter 13 proceeding.

Supreme Court overturns bankruptcy court ruling

Tennessee businessmen know that a company may declare bankruptcy if it continues to experience losses and take on debt. The Supreme Court recently ruled that a fraud may lead to a dismissal of discharge of personal debt, even when it involves asset transfers that don't create a false representation to a creditor.

Aeropostal closing 154 stores in the U.S. and Canada

As Tennessee businessmen may know, a company may have to go into bankruptcy if it sees continuing losses and mounting debts. This is what happened with Aeropostale, a clothing company based in New York City that markets apparel for teenagers and young adults. The company, which will be closing a total of 154 stores, has lost money for the past 13 quarters. When it filed for Chapter 11 bankruptcy protection, it listed in its petition debts of $390 million and assets of $354 million. The New York Stock Exchange announced in April that the company would be delisted.

Bankruptcy protection for American retailer Aeropostale

Tennessee shoppers should be aware that clothing retailer Aeropostale has filed for bankruptcy protection. The company filed for Chapter 11 bankruptcy protection on May 4 after seeing a steady decline in sales. It was known for its basic designs in a variety of colors, but trend-based retailers such as H&M and Forever 21 have provided significant competition.

Top five reasons bankruptcy might be a good idea for your struggling business

Your business debt is a reality - it has already happened. Now is not the time to wonder what would have happened if you had done something differently. Now is the time to start thinking about how to save your business or avoid personal liability for its debts.

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Contact our Nashville office at 615-686-2279 or our Cookeville office at 931-400-2218. You can also reach us via email to set up a time to talk to us about your debts.

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Nashville Office
618 Church Street, Suite 410
Nashville, TN 37219

Phone: 615-686-2279
Fax: 615-255-4516
Nashville Law Office Map

Cookeville Office
312 East Broad Street, Suite A
Cookeville, TN 38501

Phone: 931-400-2218
Fax: 931-526-6244
Cookeville Law Office Map

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