How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118119
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

The company I have worked for is in Chapter 11, I can afford

This answer was rated:

The company I have worked for is in Chapter 11, I can afford to buy equipment, stay in same location, but do I need to change the name totally. I would own the company 100%
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

You do not have to change the name legally and that is up to the company as you can buy the name rights to them. The company owns the name and that is a separate piece of property or asset that has value, so it is up to the company/receiver if they want to sell the rights to the name and that is something you would have to negotiate for based on the goodwill associated with the name. If they do not want to sell the name though, they have the right to not do so.

Thank you so much for using I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. PLEASE use REPLY to EXPERT if you would like more information or if you feel something was not included in your answer.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO XXXXX CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.


There can also be a delay of an hour or more in between my answers because I may be taking a break.

You can always request me through my profile at or beginning your question with “For PaulMJD…”

Customer: replied 4 years ago.

That is not a problem, however, the reorganization group is insisting I must change the name to get a fresh start. It feels that unsecure creditors will come after me, but there are no unsecure creditors just secured. How can I explain this to an well know expert, who gets really pissed off when I don't agree with them. I am not a wus, but easily intimidated.

Thank you for your reply.

The problem is that the reorganization groups until the Ch 11 is released control these matters. The only way you can explain it so they understand is present the proof of there being no unsecured creditors. While you disagree with them, the problem is that the trustees and reorganization group have to approve the plan and all you can do is negotiate with them.
Customer: replied 4 years ago.

Paul, this guy is really hard noise and says baggage will follow me, but our company currently has an excellent reputation, and very good contracts and a name change would alert my only competitor. How do i explain to a guy like this in a respectful and from a knowledge base. His answer was fine do it your way and fail again. He is good, but i see it as starting over when the customer base, advertising, websites, google is already setup.Paul, I need a really good script.

I would love to be able to give you a detailed script, but legally the site rules forbid me from doing so and I also do not have the sufficient details to do so.

However, the general issue is if he is saying "fine do it your way," you need to respond that "goodwill is an asset of this company and the goodwill is still flowing from the company and it would cause you greater financial hardship to abandon the name recognition and goodwill and start over from scratch with an unrecognized name in the industry and to retool all of the advertisement and internet."
Customer: replied 4 years ago.

Paul, sounds good. Will give a go. How can I reach you again if necessary?

You can reach me either by using "reply to expert" in this thread or you can open a new question and in the opening heading you can put, "For PaulMJD only..."

Please do not forget to click on excellent service feedback as that is the only way the experts receive any credit for working with customers.
Law Educator, Esq. and 5 other Business Law Specialists are ready to help you
Customer: replied 4 years ago.

Good morning Paul, is it possible for me to speak to the trustee in our case. The monies from the sale of the building will not cover all loans as they are throwing in all sorts of late and handling charges, etc.

Thank you for your response.

I am afraid that while you can speak to the trustee on the case, they generally will not listen and you could be forced to file a motion in court if you believe the trustee is improperly handling the reorganization of the bankruptcy assets. Legally, the trustees call the shots in these cases, so you would have to go to court to get them to stop him from acting if you can show he is charging improper fees or not properly handling the bankruptcy reorganization.