Normally, Chapter 11 is a more complicated chapter of the Bankruptcy Code that provides businesses the opportunity for reorganization. This form of bankruptcy usually involves a corporation or partnership. The agreement is usually based around reorganizing the company structure while it remains open in order to make payments back in a certain amount of time.
Since filing for bankruptcy means involving the U.S. Bankruptcy Court, it can be a very complex situation and should be handled by experienced professionals like us. There are several steps and lengthy documents to be filled out with extreme details about your organization’s financial history, such as, earnings, expenses, assets, investments, etc.
If you are a corporation with potential to keep earning revenue, but are having difficulty keeping up with your creditors, Chapter 11 would be a valid option for your organization. Our team at James Hayes IV Attorney at Law is well versed in the filing process and are able to inform you of your legal rights throughout the proceedings. Let us help derive an action plan to get your business back up and running profitably so you can pay the creditors back and regain your full operating potential.
- For Corporations, Partnerships & Small Businesses
- A Reorganization Action Plan is Created
- Action Plan Accepted by U.S. Bankruptcy Court
- Business Continues Operating and Creditor are being paid