A tax dispute has forced an Alaskan aviation company to file for Chapter 11 bankruptcy protection. Alaska Air Taxi LLC allegedly owes the IRS $1 million in unpaid taxes. The unpaid taxes stem from a law that charges flight operators $3-per-passenger for trips that are flown on a somewhat regular schedule. If the plane touches down at 

Businesses and individuals who file bankruptcy under Chapter 11 of the U.S. Bankruptcy Code may receive a discharge of their debt.  For all debtors, the Chapter 11 plan, once confirmed by the Court, creates new obligations which take the place of the old obligations.  For individual debtors, the court will not enter an order discharge 

While businesses often choose to file bankruptcies under Chapter 11, a Chapter 11 bankruptcy is also available to individuals.  A Chapter 11 bankruptcy allows both businesses and individuals to restructure their debt to make their finances manageable.  It may allow both individuals and businesses to avoid losing assets to liquidation, foreclosure or repossession.  It may provide both businesses and 

Because a Chapter 11 debtor assumes the duties of a trustee, there are additional reporting and noticing obligations.  Because a Chapter 11 case relies on at least some creditor support, many issues require negotiation.

When businesses or individuals file a Chapter 11 bankruptcy, the court issues an automatic stay, which immediately puts an end to collection efforts.  It is called an automatic stay because it arises automatically upon a bankruptcy petition, and it stays lenders and creditors from pursuing collection.  While the automatic stay is generally thought of as a 

Although student loans can rarely be discharged in bankruptcy, a Chapter 11 plan may be able to restructure the repayment schedule. Individuals often deal with a private student lender unwilling to defer or reduce payments to a level that an individual can actually maintain. Even where the borrowers propose full payment over time, a lender may demand 

Perhaps one of the most sophisticated vaults in the United States, RoboVault requires fingerprint scanning and keypad entry to gain access to a specific individuals vault. The vaults are protected by motion and heat detectors, photoelectric beams, networked CCTV systems, and 24/7 facility monitoring. 118 of the 408 vault units have been sold. Despite all 

It appears to be the season for Arizona car wash companies to file for Chapter 11 bankruptcy. Last week, Metro Car Wash of Tucson filed for bankruptcy protection. Just a few weeks ago, the owner of the Valley’s own Danny’s Family Car Wash had its plan of reorganization confirmed. A common motivating factor for car wash companies, as 

A confirmed Chapter 11 plan can eliminate some or all unsecured debt.  If the plan does not propose full payment to all creditors, however, other limitations apply.  Individual debtors are required to devote all of their “projected disposable income” toward payment of claims during the life of the plan, and for a period of at 

Metex Manufacturing Corp. has been forced to file for Chapter 11 bankruptcy protection a second time since 1992, because of the product liability claims they are facing. Metex was formerly known as Kentile Floors Inc. Kentile filed for Chapter 11 bankruptcy protection back in 1992 while they were facing 20,000 asbestos claims. Kentile changed their name