Tag Archives: chapter 11

5 Easy Ways to Cut Your Monthly Spending

There are many reasons why you might want to cut your monthly spending. Whether your goal is to save, cut down debt, work towards a large purchase or build an emergency fund, knowing how to reduce your spending can be a great skill. Here is a look at some ways to reduce your expenses. 5 Ways to Cut Your Monthly Spending Use your bike and public transport. After adding up the costs of gas, maintenance, tires and other expense, you will be amazed how much you are spending for every mile you drive your car. Using buses, a bicycle and trains can be a great way to save money and also potentially improve your health through regular exercise. Precook affordable meals. In the rush of daily life, we often don’t have time to cook meals that are healthy, convenient or affordable. This can lead to eating out or buying expensive…
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Kodak Emerges From Bankruptcy

According to the Wall Street Journal, Eastman Kodak Co. emerged from bankruptcy last week, more than two years after its January 2012 Chapter 11 filing. Last month, a bankruptcy judge approved the company’s plan to exit bankruptcy protection. Kodak was forced to sell assets and shed unprofitable business lines to reorganize around its commercial-imaging business, which includes digital printers and motion picture film, according to the Journal. According to court paperwork, the company was able to arrange $695 million in financing, and received $406 million in new equity investments from unsecured creditors. “Next, we move on to emergence as a technology leader serving large and growing commercial imaging markets,” Chief Executive Officer Antonio Perez said in a statement. According to NBC News, Kodak failed to get a significant value for a number of its patents before the bankruptcy, which was a “crucial” reason the company had to sell its core…
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Can an Individual File for Chapter 11?

A Maryland and Washington DC Bankruptcy Attorney Explains Bankruptcy offers an invaluable solution to individuals and families struggling under the weight of overwhelming debt. Although most people find that they can end their financial troubles through a Chapter 7 or Chapter 13 filing, some debtors find that they could benefit from filing under the rules of Chapter 11. Reasons for Filing Chapter 11 The law allows any individual to file for Chapter 11. While it is more common for an individual to file for Chapter 7 or Chapter 13, there are certain circumstances that necessitate filing under Chapter 11. Since Chapter 11 filings are mainly used by businesses, the rules are structured to handle large amounts of income, assets and debts. An individual can file for Chapter 11 only if their debts meet or exceed: $336,900 in unsecured debt like credit cards, medical bills, vacation or home improvement loans and…
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