Seder & Chandler, LLP
Worcester 508-471-3018
Westborough 508-709-0024

June 2017 Archives

Takata, airbag maker, files for Chapter 11 bankruptcy

Takata Corp., the company involved in the biggest product recall in the automobile industry, recently decided to file for Chapter 11 bankruptcy. The company also reported that the company, Key Safety Systems, based in the United States, would purchase it for $1.6 billion. Chapter 11 bankruptcy protection is designed to help companies in Massachusetts and elsewhere to overcome their financial crises and bounce back in the marketplace.

Investments require attention during divorce

In some situations involving a marital split-up in Massachusetts, the spouses may anticipate going through a relatively amicable divorce process. In other situations, the emotional upheaval caused by the divorce will make an amicable split highly unlikely. In either situation, understanding the financial aspect of the divorce is paramount for protecting one's best interests.

Divorce process involves multiple steps

During the process of dissolving a marriage, one of the most unnerving feelings is not knowing what to expect. There may be frustrating delays or not-so-pleasant surprises, for example. Thus, having a general idea of what the steps of a divorce proceeding are can be helpful before embarking on such a journey in Massachusetts.

HSAs require attention during divorce proceeding, too

After building a life together, two spouses may naturally find it difficult to split everything down the middle. This is true for assets such as the family home, and it is also true for monetary assets, such as the health savings account, or HSA. The HSA may be particularly confusing to split during a divorce proceeding in Massachusetts, simply because it has been in existence for only 13 years or so.

Divorce proceeding involves wide range of legal issues

A wide range of emotions can erupt during the process of dissolving a marriage in Massachusetts, ranging from rage to exasperation and sorrow. However, being controlled by these emotions can have negative impacts during a divorce proceeding. A few tips can help with ensuring that one approaches this type of family law proceeding in a logical manner when dealing with the children and the finances.

Gymboree to go through Chapter 11 bankruptcy

Gymboree, which has stores in Massachusetts, recently filed for bankruptcy. This retailer of children's clothing specifically filed for Chapter 11 bankruptcy. The move comes just a few weeks following its partnering with AlixPartners, a turnaround firm. Gymboree partnered with AlixPartners to receive help with its operations along with a debt payment it missed in early June.

Business bankruptcy filings overall on rise

The total number of bankruptcy filings in the United States, including in Massachusetts, increased five percent from last May to this May. The number of filings totaled more than 69,600 in May, with last May's number being more than 66,100. Still, the number of Chapter 11 filings in particular for business bankruptcy protection actually dropped eight percent from last May to this May -- from 613 filings to 563 filings.

Child custody amid matters that can affect children in divorce

When a marriage is discordant, the dissolution of that marriage might be the only solution. However, for many parents and their children who are going through divorce in Massachusetts, the process can be a searing experience. A few tips may help divorcing parents to make this type of proceeding as amicable for the children as possible when child custody is involved.

Oncology company files for Chapter 11 bankruptcy

An oncology practice in another state recently decided to file for bankruptcy. The Chapter 11 bankruptcy filing comes following many years of a decline in revenue along with lawsuits. Companies in Massachusetts that are facing financial challenges due to a poor economy and/or legal issues may benefit from filing for bankruptcy, depending on their particular circumstances.

Starting all over financially can be difficult after divorce

Starting over after getting divorced is hardly easy, especially for those who were married for years or even decades prior to the split-up. Divorce is especially challenging if the division of assets, such as the family home or a family motor vehicle, led to hard-to-resolve disputes. However, a couple of tips may help with regaining financial freedom following the dissolution of a marriage in Massachusetts.

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