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Small business bankruptcy statistics . Chapter 11 filings for businesses increased by 29 percent in September 2023 compared to the same month last year. (American Bankruptcy Institute) Overall ...
Most bankruptcy attorneys predicted that this will result in increased attorneys fees and will make attorneys less likely to take on some cases. In addition, bankruptcy filings are now subject to audit in a manner similar to tax returns. Increased compliance requirements for small businesses. The new law increases the bureaucratic compliance ...
The 2008 downfall of Bernie Madoff after his $65 billion Ponzi scheme shook Wall Street to its core. In fact, nearly 15 years after the first headline appeared about the crimes committed ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Post-bankruptcy filing, CMED's liquidator found itself probing an alleged $355 million insider fraud. In March 2017, the U.S. Department of Justice criminally indicted the CMED founder and CEO, as well as the former Chief Financial Officer, charging them with securities fraud and wire fraud conspiracy for stealing more than $400 million from ...
US bankruptcy filings are picking up steam after a two-year decline. According to a report released by S&P Global Market Intelligence, there were 591 bankruptcy filings as of Nov. 30 this year ...
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