Salvaging Your Business Through Chapter 11 Bankruptcy
Your company’s debts and financial troubles have reached a tipping point, but you believe there are better days ahead and the enterprise is worth saving. Chapter 11 bankruptcy can be that lifeline. It offers a reprieve from creditor actions while you reorganize and restructure. The key is getting your creditors on board with the plan.
The Houston Firm in Forth Lauderdale has counseled businesses in Broward County and South Florida for over three decades. For the first 15 years of my practice, I primarily represented debtor businesses in Chapter 11 reorganizations. So I have successfully shepherded many clients from the brink of insolvency to prosperity.
I have likewise helped clients solve their debt troubles through workouts and alternatives to bankruptcy. I am all about what makes the most business sense for your unique circumstances.
Chapter 11 Reorganization
Filing under Chapter 11 of the U.S. Bankruptcy Code invokes an automatic stay. This temporarily halts collection actions, repossessions, foreclosures and enforcement of judgments (with exceptions). The purpose of the stay is to buy time for the debtor business to reorganize and present a plan for repaying creditors. Typically that means offering a prorated percentage as the satisfaction of the debts owed.
My extensive experience can help you craft a confirmable reorganization plan that is (a) realistic for the continuation of your business and (b) acceptable to the creditor constituency. In conjunction, I can advise on restructuring your company – and raising capital if necessary – to put you in the best position to bounce back.
I Know My Way Around Bankruptcy Court
I have handled traditional Chapter 11 bankruptcies for corporate entities as well as Subchapter V and small business case bankruptcies. I can help you assemble the requisite filings relating to assets, liabilities, cash flow, tax returns and a statement of operations. I will guide you through the entire process, including the Section 341 hearing in U.S. Bankruptcy Court.
Lastly, I have years of experience representing debtors in bankruptcy litigation, from creditor petitions for relief from stay to adversary proceedings over fraudulent conveyance or preference payments.
Is It Time To Explore Bankruptcy?
Chapter 11 bankruptcy may be the best or only option. Let’s run the numbers and decide your next move. The Houston Firm provides comprehensive business consulting for good times and bad. To arrange a free initial consultation, call my Fort Lauderdale office at 954-869-9155 or contact me online.
The Houston Firm is a debt relief agency. We help people file for relief under the U.S. Bankruptcy Code.