Can a Business Keep the Details of Its Bankruptcy Confidential?

When are there requirements for bankruptcy?

Recently, the New Jersey Herald featured an article about Mountain Creek Resort making a request to court to keep their company’s bankruptcy confidential. Per the Herald article, in early July, the resort asked a federal bankruptcy court to approve its request for confidentiality and non-disclosure agreements that would prevent the public and Vernon Township from accessing certain documents related to their bankruptcy.

Following the request, Vernon Township’s council and mayor held a closed-door meeting to discuss the matter. Included in Mountain Creek Resort’s bankruptcy is a $26 million debt they owe to the Vernon Township Municipal Utilities Authority.

If the bankruptcy court approves Mountain Creek’s request, then public would not have access to any financial statements and other documents that Mountain Creek provided to Vernon Township as part of their Chapter 11 bankruptcy. In addition, under the confidentiality agreement, the resort would, at its discretion, be able to prevent the MUA commissioners, council and mayor from having access to certain documents.

Do I Need a Lawyer to Help Me with Bankruptcy If I’m a Small Business Owner?

There is a great deal of information available on the Internet regarding bankruptcy. However, as New Jersey bankruptcy attorney Gary Mason explains in the video below, it cannot replace having an experienced business attorney guiding you step-by-step through the bankruptcy process.

The attorneys at New Jersey bankruptcy law firm Garland & Mason have been successfully helping business owners regain control of their finances for years.



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