Chapter 11 bankruptcy is referred to as "business reorganization" bankruptcy as is specifically designed to relieve the debts of businesses and corporations, although individuals with extremely large debts may use Chapter 11 as well.
This chapter allows businesses of all sizes to continue to operate while they "reorganize" their debts and maintain control over their assets during this reorganization.
The Green Law Group works closely with experts and your business in order to plan the best debt restructuring aimed at relieving your company of overly burdensome debts that interfere with the operation of your business.
While each case is different, your business may be able to avoid liquidation and work towards rebuilding your business and profits. Chapter 11 bankruptcy provides a mutually beneficial solution for both businesses and their overwhelming creditors.
Creditors benefit because they will have the option of receiving a greater percentage of the debt than they would ever receive if the business had to be liquidated.
The business benefits because it receives a new lease on life and never undergoes a shut-down.
Rather, they eliminate much of their debt and are given the chance to pay back their debts over time.
To learn more about Chapter 11 bankruptcy and all the options available to you, contact The Green Law Group for a free consultation today!