Following a patient safety investigation of Saint Catherine Medical Center, owner Saint Catherine’s Hospital of Pennsylvania filed for Chapter 11 bankruptcy in April 2012, the Republican Herald reported. The PA state health department in March 2012 conducted a visit to the Ashland, PA healthcare facility and discovered patient safety violations, including a lack of needles, syringes,
Chapter 11
Cellfor Insolvency
Cellfor, a privately held company headquartered in Vancouver, Canada that supplies conifer varietal seedlings to the forest industry, got a court order granting it protection under the Companies’ Creditors Arrangement Act. An order from Justice Harris of the Supreme Court of British Columbia grants a stay of proceedings against all actions and creditors until January
Director Duties to Creditors at Insolvent Businesses
The California Court of Appeal, Sixth Appellate District issued a ruling in Berg & Berg Enterprises, LLC v. Boyle, 2009 Cal. App. LEXIS 1740 (Oct. 29, 2009) that limits a breach of fiduciary duty action brought by creditors against insolvent corporation directors. This case serves as persuasive authority for bankruptcy cases in New York. Berg came
Ending a Business
When a small business is not doing well, or when its owners want to start another chapter in their lives or careers, there are many ways to get out of a business – liquidate, merger, bankruptcy. In evaluating which route to take, the entrepreneur might first review the business’ debts. The liabilities a business has
Copyright Registration Can Turnaround a Business Close to Bankruptcy
Copyright registration is a way to protect intellectual property. When a business is not doing well and close to bankruptcy, protecting intellectual property can turnaround the company. In Apple Inc. v. Psystar Corp., (U. S. Court of appeals, 9th Circuit, Case No. 10-15113, Apple originally brought an action against Psystar, a small computer manufacturer, for
