Chapter 11 Bankruptcy Attorney

Chapter 11 is similar to chapter 13 but used for Businesses. This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.

Because of the complicated and technical nature of bankruptcy filings and laws, our page is not meant as a do-it-yourself guide but instead to show that you do have options for your situation and we can help you. Therefore, we encourage you to contact us and we can discuss your situation in detail and advise you if bankruptcy is right for you or your business and what are the proper steps to take to protect your valuable assets.

Business Bankruptcy Information

You must first determine the appropriate type of bankruptcy before filing for a business bankruptcy. A bankruptcy is often voluntary, though creditors can also begin proceedings. We can help you sift through all the business bankruptcy information.

Business bankruptcy claims are enacted under Chapter 7 liquidation, Chapter 11 reorganization, or Chapter 13 individual debt adjustment laws. After proceeding with a business bankruptcy, the company’s publicly traded stock is most often de-listed by the stock exchange. Though individuals are able to file under Chapter 11, the necessary debt level is so prohibitive that Chapter 11 is usually used for business bankruptcies.

  • Chapter 7 is a bankruptcy liquidation process in which a business decides that it cannot continue, so all assets need to be sold to address debts.

  • Chapter 11 reorganization which permits a business to operate under a manager’s direction, providing a company with the opportunity to potentially stay in business.

  • Chapter 13 individual debt adjustment, which can be used by those who are self-employed, in a sole proprietorship, and have regular income.

Contact Our Business Bankruptcy Law Firm

If you are thinking about commercial bankruptcy proceedings, please contact our business bankruptcy attorneys to be aware of your options. It could be the most critical business decision you ever make.