Financial struggles aren’t avoided the more money an individual or company has. Recently, Gawker Media, an online media company with assets around $50 to $100 million, has recently filed for Chapter 11 bankruptcy while appealing a $140 milling verdict for Hulk Hogan. Chapter 11 bankruptcy is available for troubled businesses and gives them the ability to restructure their debts with the hopes to become financially stable again. Luckily for Gawker, all litigation is halted during a Chapter 11 bankruptcy which means the company doesn’t need to currently deal with the $140 million verdict against them. If you own a business and are currently experiencing financial hardship, contact our office at 816-524-4949 or check out our website at Hoorfarlaw.com.