Company owners investigating business bankruptcy in New York may be confused about what bankruptcy is and what type of filing is best for the organization. While filing bankruptcy can be complicated and should always be done with the assistance of a bankruptcy attorney, the basic concepts aren't difficult to understand.

 

What Is Bankruptcy?

 

When a business or individual is unable to meet obligations to creditors, bankruptcy is a legal declaration of this inability. The purpose of the filing is to protect a business from action from creditors and allow the possibility to reorganize or liquidate so some or all of the debt can be paid. Personal and business bankruptcy is basically similar, though covered by different parts of the law.

 

Most business bankruptcy is voluntary, meaning the action is initiated by the business in debt. An organization that recognizes its inability to meet financial obligations files bankruptcy to get some breathing room while they decide how to approach the debts so they can be paid. In rare cases, the creditors can file bankruptcy against a debtor in an effort to recover a portion of unpaid debts. This is referred to as involuntary bankruptcy.

 

Bankruptcy Chapters

 

In the US there are six different types of bankruptcy, called chapters. Chapter 9 (municipal bankruptcy) is the chapter used to address municipal debts. Chapter 13 (wage earner bankruptcy) is a reorganization plan for consumers who have a steady source of income such as a regular job. Neither of these is used for businesses. It is also rare for businesses to file Chapter 12, designed for family farmers and fisherman, or Chapter 15, international bankruptcy.

 

Business bankruptcy is almost exclusively either Chapter 7 or Chapter 11. Chapter 7 bankruptcy is also known as liquidation. It is applicable to both businesses and consumers and is filed when the debtor has no possibility of repaying debts in full. Assets are sold off and as much of the debts as possible are paid out of the proceeds. Chapter 11 is a corporate reorganization that allows businesses to continue to operate while they pay off their creditors.

 

Liquidation or Reorganization?

 

The choice between Chapter 7 and Chapter 11 bankruptcy depends on how serious a company's debts are. Chapter 7 spells the end of the company as a business entity. All assets will be sold off and the company will cease to exist. It is a desperate move but unfortunately sometimes necessary when an organization's debts exceed their ability to pay.

 

Whenever possible, companies are advised to try for Chapter 11 reorganization. The company is able to keep operating while a debt restructuring plan is worked out. Many companies have emerged from Chapter 11 stronger than before and gone on to become powerful and profitable businesses.

 

The best advice for getting business bankruptcy New York is to speak to a bankruptcy attorney. They can provide the advice owners need to decide which plan is best for their individual situation.

Most people think clients of legal transcription services to be limited to courts and attorney offices. In reality, a growing number of private and public sector clients are using court reporters to provide ironclad documentation of business discussions.

The Maryland Court Reporters Association has several tips for Maryland court reporters on their web site. These ideas help both new and experienced deposition reporters improve their speed and accuracy.

A person who is the victim of a dog bite attack has a legal
right to recover compensation as long as liability can be
imposed against the owner or person responsible for the
dog. Given this right, the insurance company who is
legally obligated to compensate the victim will go to great
lengths to either deny the claim or minimize the amount of
compensation it has to pay. In fact, most people who enter
the claims process are very much surprised to discover just
how far the insurance company will go to avoid paying a
fair settlement. As a result, there are certain steps that
a dog bite victim can take to protect his or her rights and
maximize recovery. Or put another way, there are at least
nine mistakes that I see dog bite victims make. Committing
one or more of these mistakes can have devastating
consequences in the legal claim, or significantly reduce
the amount of compensation the insurance company is
required to pay.

That being said, you should understand that this chapter is
not intended for people who may wish to bring a frivolous
claim or for those who may want to recover an unreasonable
amount of compensation for an injury that is minor or
insignificant. If you bring a frivolous or unfounded
claim, it doesn't matter what you do or don't do because
the insurance company will go to extraordinary lengths to
defeat that claim. Also, when I say that victims should
maximize their recovery, I mean that there are certain
mistakes to avoid so you have the greatest chance that the
insurance company will pay out the maximum amount of
dollars to settle the claim. Here are the mistakes to
avoid:

Mistake #1 - Failing to seek medical treatment promptly.
If the injury is serious enough to warrant medical
attention, then you need to promptly consult with a doctor,
or go to your local emergency room. Insurance companies
may refuse to believe that the injury is serious unless
prompt medical attention has been received. Also, a visit
to the doctor will result in the creation of a chart note
that becomes a permanent record in the case. The magnitude
of the injury, as well as your symptoms, will be recorded
by a professional and this information can be used later to
prove how bad the injury is.

Mistake #2 - Failing to notify the proper authorities. If
you have been bitten, the proper authorities should be
immediately notified. This may include the police or the
local animal control agency. An investigation by the
authorities can produce information and witness statements
that may be critical in helping you establish liability
against the animal's owner. Sometimes the most important
question to answer is, "Who owns the dog?" If you are not
familiar with the dog, or if the dog runs away after the
attack, then an investigation by the proper authorities may
become even more important to your subsequent legal claim.

Mistake #3 - Failing to take multiple photographs of your
injuries and wounds. This is extremely important. Often
times the value of a dog bite injury is heavily dependent
on the appearance of the initial injury, along with the
appearance of subsequent disfigurement and scarring that
develops over time.

You should take multiple photographs over the period of
time that it takes the injury or wound to heal. Insurance
companies will often put a great deal of weight on
photographs, especially if the injury is significant and
any subsequent scar or disfigurement is severe. We have
all heard the adage, "A picture is worth a thousand words."
This is no less true with photographs depicting severe dog
bite injuries, disfiguring wounds, or prominent scars.

Recent construction accidents have highlighted and is still
a persistent problem on construction sites across the
world; the presence of unsafe working conditions is one of
the most common causes for serious construction accidents.
The fact remains, however, that many of these accidents can
be prevented by proper, competent oversight and adherence
to building safety regulations and occupational hazard
standards. Two specific examples of unsafe working
conditions and attempts at circumventing basic standards
were the cause of recent regrettable events.

The first has been the widely reported problem of defective
Chinese drywall present in recently constructed homes
across the U.S. It has come to the attention of several
homeowners that their homes may be contaminated with
defective Chinese drywall imported between 2000 - 2007,
which may now be releasing harmful gases into their homes.
This gas has been shown to corrode copper wiring in
electrical sockets, copper duct work in air conditioning
units, and tarnishing silver flatware. Additionally, it
may present health concerns both from short term and long
term exposure; many individuals have already experienced a
litany of symptoms, including respiratory problems,
headaches, and fatigue.

The contaminated building product has gone beyond creating
unsafe working conditions for the construction workers that
may have been exposed to the toxic Chinese drywall; it has
now created a potentially hazardous living environment for
many of the homeowners in which this defective product was
installed.

Another example of unsafe working conditions came from an
international incident in Shanghai. A 13 story apartment
building collapsed almost completely intact, killing one
worker. The collapse was apparently caused by workers
beginning excavation on the underground parking garage,
causing the river bank nearby to collapse and triggering a
foundation failure for the complex. Preliminary reports
have said that the Chinese government is holding 9
individuals connected with the building's construction.
When builders attempt to cut costs by neglecting safety
regulations, we see why such a tragic accident would occur.

Those in charge of the building should be the ones in
charge of enforcing safety standards on the projects. When
safety is overlooked in favor of cutting costs, it is the
construction worker who generally is the victim of.
oversight. Oftentimes, this leads to the victim contacting
a construction accident lawyer and developing a costly
construction accident lawsuit for the building contractor.

President Obama says Guantanamo has got to go. I know what
some of you are thinking, but don't give us that
conservative line about needing a plan. This is too urgent
to wait for a plan. We must close it now so the Muslim
world will love us like they did before President Bush came
to power.

Sure, it has successfully held some of the worst terrorists
we have captured so far, including al Qaeda chief and
confessed planner of the 9/11 massacre, Khalid Sheik
Mohammad, but in the words of our leader it has become an
embarrassment for America.

In his May 21, 2009 speech on national security given at
the National Archives in Washington D.C., President Obama
stated: "there is also no question that Guantanamo set back
the moral authority that is America's strongest currency in
the world. Instead of building a durable framework for the
struggle against al Qaeda that drew upon our deeply held
values and traditions, our government was defending
positions that undermined the rule of law. In fact, part
of the rationale for establishing Guantanamo in the first
place was the misplaced notion that a prison there would be
beyond the law -- a proposition that the Supreme Court
soundly rejected. Meanwhile, instead of serving as a tool
to counter terrorism, Guantanamo became a symbol that
helped al Qaeda recruit terrorists to its cause. Indeed,
the existence of Guantanamo likely created more terrorists
around the world than it ever detained".

Obama separated the Guantanamo detainees into five general
categories: 1.Those who have violated American
criminal laws and can be tried in federal courts
2.Those who violate the laws of war and are therefore
best tried through military commissions 3.Those who have
been ordered released by the courts 4.Those who we have
determined can be transferred safely to another country
5.Those who cannot be prosecuted yet who
pose a clear danger to the American people

Mr. Obama went on to inform us that he was not going to
release individuals who endanger the American people, and
that there are likely to be a certain number of "detainees"
that we will have to hold for an undetermined period of
time. Apparently Mr. Obama has learned that it is far
easier to make campaign promises and political speeches
than it is to develop and execute a viable plan for dealing
with this critical national security issue. Mr. Obama had
barely settled into his seat in the oval office before
signing an executive order to close GITMO.

So let me see if I have this right --- -We must
close Guantanamo, and the President has so ordered
-We can't just let all of
the prisoners held there go free, they are too dangerous
-We'll have to detain them somewhere, but we
need to do it right this time
-We must avoid creating a new symbol that al Qaeda can use
to recruit terrorists

So how do we protect the American people from the murderous
attacks of radical Muslim terrorists and still achieve
President Obama's apparent goal of getting the rest of the
world to love us? It's a complex and tricky objective
wouldn't you say?

On the one hand we're fighting a war against terrorist
organizations such as al Qaeda, people who praise god as
they slowly cut off the heads of helpless hostages; and on
the other hand our current President and congressional
leaders in the Democrat Party are obsessed with the need to
play "kissy face" with the rest of the world in a vain
attempt to make everyone like us.

Hey, I think I have the answer. First we will need to use
an old politician's trick and give it an innocent sounding
name that no one could possibly renounce. President Obama,
I suggest you call it "The Temple of Temporary Residence
for Goodness and Redemption".

I even have an idea for construction of a new facility to
replace that evil place known as Gitmo. (this is extremely
important since we don't want to create a bad image in the
minds of our fellow members in the United Nations). Let's
make it an exact duplicate of the Disney World castle. Who
could possibly object to that.

The constant onslaught from so called mainstream media and
Democrat leadership in Congress to paint Guantanamo Bay as
some sort of medieval dungeon of torture has succeeded in
giving our enemies a valuable propaganda tool.

This change is guaranteed to result in an immediate
recruiting crisis for al Qaeda, touch the hearts of those
in the Iranian regime, and quickly restore our image
throughout the Muslim world. We could even adorn the walls
of the detainee cells, sorry ... make that guest rooms,
with life size portraits of Harry Reed, Nancy Pelosi, and
President Barack Hussein Obama.

No thanks necessary President Obama ... I'm just following
the theme of "Change we can believe in".

That's The Way I See It - Al Lavallis

In previous chapters I discussed Washington state's "Dog
Bite Statute" as well as this state's common law regarding
the dog owner's civil liability for injuries and damages
inflicted by the dog upon another person. These laws give
dog bite victims the legal right to recover monetary
compensation from the dog owner (usually paid by the
owner's insurance company). However, Washington state has
laws in place that may also subject the dog owner to
criminal responsibility. Unlike civil liability, which only
obligates a person to pay monetary damages to another, the
conviction of a crime will subject the dog owner to
possible jail time or monetary fines, or both.

In Washington, the owner of a known "dangerous dog" or a
"potentially dangerous dog" that aggressively attacks and
causes severe injury or death of any human being shall be
guilty of a Class C felony.19 In non-death cases, the
injury must be severe enough to cause broken bones or
disfiguring lacerations requiring multiple sutures or
cosmetic surgery. The conviction of a Class C felony may
result in punishment of up to five years in jail, or up to
a $5,000 monetary fine, or both.

The term "dangerous dog" refers to one that inflicts severe
injury on a human being without provocation, or kills a
domestic animal without provocation while off the owner's
property, or that has been previously found to be a
potentially dangerous dog with the owner's knowledge. So
for instance, a dog that has killed another person's pet
dog or cat while off the owner's property and then later
inflicts severe injury on a person may subject its owner to
prosecution for a criminal offense with possible jail time
and/or monetary fines.

The owner of a "dangerous dog" can also be convicted of a
gross misdemeanor, a criminal charge that is less serious
than a felony, and which carries a maximum sentence of up
to one year in jail or a $1,000 fine, or both. This can
occur if: (1) the "dangerous" dog is not properly
registered with the local animal control authority, (2) the
owner fails to obtain an adequate surety bond or insurance
for the animal, or (3) the dog is not kept in the proper
enclosure or is outside the enclosure and outside the
owner's residence without proper physical restraint. If any
of these circumstances occur (in addition to a possible
criminal conviction), the dog shall be immediately
confiscated by the animal control authority.

The legal field is using video more than ever and there is a growing demand for legal videographers. The impact of video depositions is greater than a simple transcript and video conferencing allows remote witness to give their testimony as though they were in court. With above average job prospects predicted over the next few years, many film students are considering this career path.

New Year's Day is the traditional time to make personal and professional resolutions, but when it comes to your career any time is a good time to evaluate your path and make changes. What can court reporters do to become more valuable?

Legal matters seem to arise when you are least expecting
them, which means you have to find a good lawyer quickly to
get things settled. With all the names in the phone book
it is difficult to know who to hire and what questions to
ask. This article gives you ten important tips for you to
follow to get the best lawyer for your needs.

1) Is the lawyer experienced with your matter?

There are many different kinds of law, and the lawyer your
best friend recommended may not have expertise in the area
of your situation. For example, an arts and entertainment
lawyer would not handle a divorce case and a criminal
lawyer wouldn't feel comfortable handling a patent law
question. Asking about his area of expertise will help you
decide if this is the perfect lawyer.

If you have special requirements, tell the lawyer about
them before hiring him to make sure he can accommodate you.

It's important to make sure you can communicate with your
lawyer and be comfortable while settling your legal matter.
If you have special needs or items that need to be taken
into consideration you might want to use those needs to
help you narrow down your lawyer search. For example, if
you're not a native speaker of English, maybe a lawyer that
is bilingual would be more helpful when it comes to
understanding the full details of your case.

3) As with any professional, ask for references and make
sure you follow through with calling them.

A good lawyer takes pride in his work and would be happy to
have you talk to satisfied clients. Ask these references if
they were satisfied with how the lawyer handled the case,
if they were charged fairly and if they had any
reservations about using them again.

4) Is the first appointment free?

When calling lawyers you'll want to find out if the first
appointment is free so you can plan ahead with your budget.
In some cases, you are offered a free initial consultation
period so that the lawyer can get to know you and see if
the case is right for them. During this period they will
hear your matter, discuss the direction to follow to solve
the problem and let you have a basic estimated cost.

5) What are my options?

Will you pursue settling the matter out of court? It's good
to know what legal options you'll have, if any. A good
lawyer should be able to give you a brief outline of the
steps he will take to get to the bottom of your case. Your
case may be complicated and have many steps with motions to
be filed and motions hearings. It could also be a simple
case that can be settled in a single court date. If you're
lucky, the matter can be settled out of court, saving you a
bundle in court costs. Your lawyer will know the best
course to take for your personal interests. As always, ask
questions if you don't understand what your lawyer is
telling you.

6) Who will handle my case?

In a small law firm you may have only a lawyer working on
your matter, but in larger firms your lawyer may assign
your case to a paralegal or another associate that helps
out in the law firm. Having these assistants work with the
lawyer on your case may help to keep the costs down.

7) If I have a question, how long can I expect to wait to
hear back, and how will you communicate?

Communication is a big key to solving your legal matter in
an efficient way. You don't want to be calling your lawyer
every day as that can be annoying and distracting,
especially if there's nothing new going on in your case.
Remember that your lawyer will have court dates and times
he'll have to attend for other clients so when you make a
call you may not hear from him until the end of the
business day. Plus, you will pay out of your own pocket for
each phone call your lawyer makes on behalf of your case,
including to you.

Ask what time of the day is best to reach the lawyer. If
you can, save up your questions and ask several at a time
to make your phone call more efficient, but don't hesitate
to call if you have a pressing matter that can't wait.

You should also find out how the lawyer prefers to
communicate. Some lawyers may prefer to phone while others
might find a quick email easier to answer. Others may like
to drop a letter in the mail. As long as you know when and
how you'll hear from your lawyer you can keep your mind on
more pressing matters.

8) What will it cost for your services?

In the first consultation visit your lawyer won't know the
exact amount you'll be charged for his services but he
should know a ballpark figure from working on other cases
like yours. In most cases you'll be expected to pay a
retainer fee upfront. A retainer fee is a fee you'll pay to
secure the lawyer's services, to hire him.

Don't be afraid to shop different lawyer's fees. Sometimes
you can negotiate your fees or get lower fees if a junior
lawyer or a paralegal handles some of your case.

9) What are the legal fees, and how will I be billed?

There are two kinds of legal fees: professional costs and
disbursements.

Professional fees cover a lawyer's time and effort dealing
with your case. For example, time spent in court, in
meetings or on the phone with you and time spent
researching information are covered in this area. There are
different ways of charging for professional costs:

An hourly rate may be applied to some types of cases.

A flat-rate fee could be applied for the amount of work the
lawyer will perform. For example, if you need the lawyer to
simply prepare some documents you may be charged a flat
rate fee.

No win, no fee agreement. This means if you don't win your
case in court, you won't have to pay for the lawyer's time.
Usually you will have to cover any disbursement costs.

Disbursements are costs a lawyer pays out to people
associated with the case, such as fees of assorted reports,
cost of making copies and other such expenses. In most
cases, even a no win, no fee agreement you'll have to pay
your lawyer for disbursements.

You'll want to make sure your bill outlines the different
services you are paying for. For example, if he's spent 3
hours on the phone with you it should be outlined on your
bill. Make sure you understand all of the charges and ask
questions if you don't.

Also, asking when the lawyer expects to be paid will help
you to sort out your budget and get your funds in order.

10) Ask for brochures and a copy of the retainer agreement
to go over to help you make a decision.

A lot of law firms and lawyers will have informative
documentation and brochures describing their services. The
retainer's agreement is a form that sets up the schedule of
fees and payments up front. You'll want to read this
carefully to make sure you understand what you're getting
into before hiring this lawyer.

In Conclusion.

Having to deal with a legal matter can be frustrating and
costly, especially if you don't choose the right lawyer to
handle your case. Knowing what to ask and what to expect
will help you find the right lawyer so you can focus on
getting your legal problems settled.