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Monthly Archives: December 2022

Bankr12

Why New Business Owners Should Be Cautious About Early Expansion

By Harry D. Lewis |

When a prospective entrepreneur starts a new business venture, the objective is presumably success and ultimately ample riches from a profitable endeavor. This is possible for some new businesses, but it is only the case for some. The Bureau of Labor Statistics indicates that 22% of new companies do not make it past their… Read More »

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Chapter 11 News – The Sackler Act

By Harry D. Lewis |

Purdue Pharma filed for Chapter 11 bankruptcy protection in 2019 due to opioid business liabilities. Purdue had faced thousands of lawsuits from numerous governmental agencies because of alleged harm that opiates like OxyContin caused to communities and thousands of individuals. ┬áThe Sackler Family The Sackler family, owner of Purdue Pharma, had an estimated $10.8… Read More »

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4 Different Types Of Insolvency Businesses May Face

By Harry D. Lewis |

When a business cannot pay back its debt, it may become insolvent. Being insolvent does not mean the end of the responsibilities of the company. Regarding repayment, owners are not at the top of the list. Quite the opposite. The duty of using what assets or cash remain in a company will first be… Read More »

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