The bankruptcy lawyers at Hendel & Collins will smoothly guide you through the complicated Chapter 11 process.
Chapter 11 of the Bankruptcy Code is frequently referred to as “reorganization” and is primarily designed for corporations and partnerships. It is also an option for certain individual debtors. Chapter 11 bankruptcy is available for businesses that need time to develop payment plans, often with the participation of creditors, to obtain new financing, or to sell assets. In this chapter, generally, a debtor proposes a reorganization plan to keep its business alive, to pay creditors over time, or to modify certain debts. In a Chapter 11, the debtor retains possession and control of its assets while it develops its plan of reorganization. A Chapter 11 debtor has certain statutory and fiduciary duties to preserve the debtor-in-possession’s assets and to operate so as to maximize the recovery for pre-bankruptcy creditors.
Our firm understands the unique financial problems that face all types of businesses and offers alternative solutions to achieve your goals by providing legal services of the highest quality.
We are here to help relieve financial pressure and allow you to regain control over your financial lives. We strongly encourage you to contact one of our experienced bankruptcy professionals if you are contemplating bankruptcy. At Hendel & Collins we work closely with you throughout the process, providing care and attention.
Chapter 11 bankruptcy has very specific limitations and rules. If you would like to determine your eligibility for this bankruptcy solution, call the trusted law firm of Hendel & Collins today at (413) 734-6411.