News & Events

News & Events

9.21.2007

Heston Interviewed about Chapter 11 Misconceptions

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Mary Jo Heston was quoted in the Portland Business Journal on September 21, 2007, for an article headlined, “Businesses on the brink of bankruptcy should seek help.” She spoke about common misconceptions about filing for Chapter 11, the most common being that Chapter 11 “will result in the death of their business,” she said, adding that she has worked on many successful cases. “The second most common misconception is that Chapter 11 will fix a fundamentally bad business or one that has insufficient funds from operations or from a lender,” Heston said. She spoke about when to consider bankruptcy and the latest bankruptcy rules.