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According to a study by the Small Business Administration, about 36% to 53% of small businesses have to deal with a lawsuit every year. The majority of business owners in Texas agree that avoiding lawsuits can save their business a lot of time, money, and needless stress. However, business disputes and lawsuits may be completely unavoidable at times.

There is always so much at stake in owning and operating a business. No matter what kind of business you own, actions taken in the short-term can have long-term ramifications, personally and financially. However, in the storm and stress of growing your company, it can be easy to neglect the many legal processes that constitute the foundation of any successful enterprise.

The corporate reorganization bankruptcy (a “Chapter 11 case”) is actually not well understood by neither businesses nor non-bankruptcy attorneys or most media reporting on bankruptcy proceedings. The reorganization process is complex and must account for many variables, some of which are known before a filing occurs, and some which develop later in the process.

On March 13, 2020, President Donald Trump issued a proclamation declaring a national emergency in connection with the emergence of the novel coronavirus (COVID-19) in the United States.