Business Chapter 11
Chapter 11 bankruptcy is generally used as a vehicle to reorganize all business in any form of corporation, partnership or sole proprietorship. When faced with mounting losses, big and small companies choose to restructure their business using the protection of the Bankruptcy Court. Chapter 11 bankruptcy offers the opportunity to restructure financial obligations with your lenders and creditors so you can regain profitability, regain viability and solvency for your business. Many different reasons bring business owners and executives to seek advice from a Business Bankruptcy Specialist. The mutual goal is to improve their business paradigm so that their Business returns to profitability and growth.
Chapter 11 bankruptcy requires a realistic – Plan of Reorganization written with the expertise of your Business Bankruptcy Attorney, your input and guidance plus your schedules and financial information provided by your accountant. Your Plan of Reorganization must be voted on favorably by your business lenders and creditors and approved by the Bankruptcy Court.