Charlotte-area bankruptcy courts recorded one business filing, including one with total debt above $1 million, during the week that ended July 3. Year to date through July 3, the court recorded 19 Chapter 7 or Chapter 11 business bankruptcy filings, a 171% increase from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor obligations…
from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2020/07/10/the-week-in-bankruptcies-mt-simpson-farm-llc.html?ana=RSS&s=article_search
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