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CHAPTER 11 BANKRUPTCY
Chapter 11 Bankruptcy
For Individuals and Businesses
Due to the Coronavirus pandemic hotels, retailers, movie theaters, casinos, and vacation providers—face exposure to bankruptcy in the coming months if they are unable to source new liquidity, Chapter 11 protection is available to these businesses and individual debtors who exceed the income limitation requirements of. Chapter 13.
Chapter 11 protection requests permission of the court to continue normal business operations and allow the business to pay employee wages as well as paying suppliers or vendors. This means maintaining your business, (assets, real estate and business operation) under a new debt restructured plan.
Under this chapter, the owner of the business is typically responsible for paying creditors directly in accordance with the Chapter 11 plan once that plan is approved by the bankruptcy court. However, Chapter 11 bankruptcy is complicated. As an ongoing process under Chapter 11, requires a high amount of reports and procedures built into the process.. Depending on the size of the business, preparing, filing, and following through with a Chapter 11 plan can involve a substantial amount of work for both the debtor’s attorney as well as the U.S. Trustee and bankruptcy court.
If you are considering Chapter 11 bankruptcy , it is best handled by an attorney knowledgeable in the various requirements debtors must complete in order to have their Chapter 11 plan approved. We represent both individual and business debtors who need relief from overwhelming debt.
We will qualify you for the appropriate bankruptcy chapter, explain the bankruptcy process, prepare the appropriate petitions, plans, and motions and help you get started on the path to rebuilding your personal or business finances.
Call our bankruptcy attorneys to discuss your options between Chapter 11, 13 , 7 or other possible reliefs and solutions using our multidisciplinary approach.
Free Consultations, no obligation, and confidential attorney- client privilege applies. (305) 450-8009.
Representation in all Federal Bankruptcy Courts in every U.S. State
Sara Saba, Esq.
Nicholas Guiliano, Esq.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.