For many Valley businesses, being served with even one major lawsuit can cripple business operations.  Even a successful defense can be expensive, and losing could end the business.
One business recently in the news, Luna Innovations, filed for bankruptcy protection under Chapter 11 precisely because it appeared it might lose a lawsuit (losing is described as

The Phoenix Business Journal reports on the Chapter 11 filing by a local company, Mesa Air Group.  Mesa Air’s CEO states a common reason for filing a Chapter 11 bankruptcy petition: burdensome lease obligations.
Long term leases can cripple a business of any size.  Many East Valley businesses are stuck in multi-year leases at rental rates set

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Home foreclosures climbed to a

A precept in bankruptcy is generally that unsecured creditors should be treated similarly in your bankruptcy case.  For example, if you have ten credit cards and file for bankruptcy, each of the credit cards will get, if anything, the same amount — regardless of the amount that is owed on each specific card.  Thus we run

When I visit with clients about filing bankruptcy, nearly everyone I meet  is at the end of their financial rope and are resorting to bankruptcy when all hope of recovery is gone.  In much of my reading on bankruptcy there seems to be a new approach to bankruptcy, what it offers, and how the Bankruptcy