Many companies believe in thinking postitive about their future. However, all companies should consider worst-case scenarios and make contigency plans.

As the recent recession has shown, companies can go under when they least expect it. For instance, if a company loses a major supplier or customer, then that company will likely have trouble surviving. 

If you have questions about your company's possible bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP, at 512-338-1100.

When a corporation files for bankruptcy, many shareholders often want to blame the corporate directors. While corporate directors often believe they are immune from liability, some could be sued if they have not acted in good faith.

This means that the corporate director has been found to have not acted in the company's best interest, shareholders may be able to bring a case against that corporate director. Proving bad faith cases, however, are often difficult. 

If you are a shareholder and have questions about your company's bankruptcy, contact the Austin bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.

When individuals file for bankruptcy, their credit score is often lowered. Many individuals worry that if their credit score is lowered then their family members credit scores will also be ruined.

In most cases, filing for bankruptcy will have no effect on another family members' credit score. It will usually have an effect if the individual filing for bankruptcy is filing with his or her spouse. For such joint filings, both spouses credit will likely be damaged by the bankruptcy filing. 

If you or anyone you know is considering filing for bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP, at 512-338-1100.

When individuals file for bankruptcy, they are often behind on their tax payments. For this reason, they are often burdened by the obligation to pay interest on their back taxes.

When individuals file for bankruptcy, they are often able to hault interest payments on many of their debt obligations. This provision may also be applied to their back taxes, which will allow them to stop making interest payments to the IRS. 

If you or anyone you know is considering filing for bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP, at 512-338-1100.

When spouses consider filing for bankruptcy, they must often decide whether they will file separately or jointly. This decision will often depend on whether the debts are separately or jointly owed. 

Under Chapter 7, if the spouses choose to file separately and one spouse is unable to pay his or her debts, then the other spouse may be forced to repay the debts. The rules for Chapter 7 are even further complicated in community property states like Texas, California, Idaho, Nevada, and New Mexico. 

If you and your spouse are considering filing under Chapter 7 bankruptcy, contact the Austin Chapter 7 bankruptcy attorneys of Slater Kennon LLP, at 512-338-1100. 

Arrow Trucking Company filed for Chapter 7 bankruptcy liquidation last week. The filing followed a fraud charge made by Transportaion Alliance Bank Inc., one of Arrow's lenders. 

According to the lender's lawsuit, the fraud charges allege that Arrow misled the lender about the company's financial condition and had not paid some taxes. The Tulsa-based flatbed carrier had been struggling financially for many months before the fraud charge and bankruptcy filing. 

If you or anyone you know is considering a Chapter 7 bankruptcy liquidation, contact the Austin Chapter 7 bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.

Investors are exposed to significant risks when companies file for bankruptcy. In some cases, investors will purchase a company's debt in order to help reorganize the company and later make a profit on the investment. 

However, according to a Wall Street Jounal article, some investors are concerned about a provision known as Rule 2019. This provision requires creditors and investors to disclose the details of their investments. 

This provision acts as a disincentive for investors because they are unable to protect their investing information, which they often see as a competitive advantage. 

If you have a question about one of the many bankruptcy provisions, contact the Austin bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.