Chapter 11 Reorganization of Debts

Chapter 11 Bankruptcy is commonly utilized by businesses to reorganize their debts. Individuals whose debts exceed the Chapter 13 limits are able to file for Chapter 11 bankruptcy.

A Chapter 11 bankruptcy will allow your business to recover from its previous poor business decisions. A Chapter 11 bankruptcy allows a business to continue to operate without the day-to-day burden of their pre-existing debt obligations. It gives the business an opportunity to develop a plan to restructure its debt and to relieve the business of leases and contracts that are economically unfeasible. In a typical Chapter 11 bankruptcy proceeding, management continues to run the day-to-day operation of the business. Many significant business decisions, however, may require court approval, such as liquidating the assets of the business.

It is important to remember when choosing a bankruptcy attorney, that not all attorneys have the requisite knowledge and experience in handling these cases. The Law Offices of Matthew E. Fuller are committed to representing those consumers and businesses that have been suffering from severe financial hardship.