Chapter 11 is a specific chapter of Title 11 of the United States Bankruptcy Code that permits reorganization under bankruptcy laws. Chapter 11 Bankruptcy is available to every business including those organized as a corporation, partnership, or sole proprietorship, as well as to individuals, although it is primarily utilized by corporate entities.
OUR FIRM SPECIALIZES IN ALL ASPECTS OF CHAPTER 11 BANKRUPTCY INCLUDING:
- Business restructuring
- Official unsecured creditor committee representations
- Reorganizations and recoveries
- 363 asset sales and purchases
- Secured lender representation
- Mergers and acquisitions
- All other associated processes
CHAPTER 11 BANKRUPTCY LITIGATION
Given that Chapter 11 Bankruptcy is so complex and often drags for years, businesses urgently need the help of an experienced law firm to help minimize their losses and maximize the benefits of both state and federal laws. This includes all steps in the procedure from filing the voluntary petition to confirming a plan for reorganization.
When the business officially files and is approved for Chapter 11, it is automatically recognized as a debtor in possession, which is defined as the business controlling the assets but still owing on its debts. A bankruptcy judge may then decide whether or not to appoint a trustee. Filing this petition stops all listed creditors from attempting to collect money from any debts, and it ceases all current lawsuits, garnishment actions, and other formal attempts to take assets from the debtor.
If your business is considering filing for bankruptcy or is having difficulty doing so, please contact our firm to discuss your case, along with how we can help your business.