Experiences That Matter Most
Chapter 11 Bankruptcy
Debt Relief for High-Income Individuals & Businesses
Chapter 11 bankruptcy – often referred to simply as reorganization – lets higher-income individuals and businesses reorganize debts without starting over completely. Multimillion-dollar companies and corporations around the world have found debt relief by filing for Chapter 11 bankruptcy protection.
At J. Doling Law, PC, we represent high net worth individuals and businesses of all sizes filing Chapter 11. Our extensive knowledge of the U.S. Bankruptcy Code, Tax Code, and related federal statutes and rules has helped thousands of clients obtain favorable results.
The Chapter 11 Process
Individuals and businesses seeking relief from overwhelming debt may wish to file for Chapter 11 bankruptcy protection. Chapter 11 is best suited for corporations, partnerships, and LLCs. However, Individuals whose debts and assets make chapter 7 or chapter 13 poor options may benefit from Chapter 11.
In most Chapter 11 bankruptcies, there is no trustee and debtors usually continue their normal business operations. A trustee will be appointed only if the bankruptcy court finds evidence of fraud, mismanagement, or incompetence.
Though the business will still be operable, the bankruptcy court must approve major business decisions such as:
- Sale of assets or real property
- Obtaining financing
- Starting or breaking a lease
- Entering into or modifying contracts
- Mortgage arrangements
- Paying fees for attorneys and other professionals
By the end of the bankruptcy process, you will have reorganized your debts and come to an agreement with creditors about how you will continue paying debts. Our Chapter 11 bankruptcy attorneys will guide you to your fresh start.
Changes To Chapter 11 Bankruptcy
Effective February 20, 2020, the Small Business Reorganization Act (SBRA) made substantial changes to Chapter 11 bankruptcy for small businesses. The SBRA offers a new method for reorganizing debts through a more affordable process.
At J. Doling Law, PC, we understand how SBRA or SubV can benefit and save small businesses.
Find The Hope You Need When Dealing With Financial Hardships
Work with our CERTIFIED BANKRUPTCY SPECIALIST who is highly experienced and understands the different bankruptcy and debt settlement options. We’ll find the best solution for you and your family.