Filing Chapter 11 Bankruptcy
(Individual & Corporate)
Helping Individuals and Corporations with Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a type of bankruptcy available to both individuals and businesses. Chapter 11 involves a reorganization of debt but has no limit to the amount of debt that can be restructured except for the new small business sub-chapter V Chapter 11 option which does have a debt limit to qualify for such sub chapter. The new sub -chapter V chapter 11 is an excellent potential option for companies and individuals under the right circumstances. For debtors who have large amounts of debt that need to be restructured and significant assets to reorganize , Chapter 11 may be the right option. If you would like to learn more about this form of bankruptcy and how it may benefit your company or you as an individual, please contact our office. Chapter 11 is utilized most often by businesses to reorganize its business affairs in a controlled environment and obtain the benefit of the automatic stay .
Thomas L. Abrams prides himself in successfully representing business and individual clients in Chapter 11. As Chapter 11 Bankruptcy is very complex and costly, it is important to retain a Florida Bankruptcy Attorney who can handle your case in an efficient and cost effective manner. Tom Abrams has a track record of just that type of representation.
In discussing your particular financial options with an attorney experienced in handling Chapter 11 cases in the South Florida area, you can get information that is pertinent to your particular needs, concerns and financial situation. After all, this is an extremely important decision to make, and the outcome will affect you now and for years into the future.
About Chapter 11 Bankruptcy in Fort Lauderdale and South Florida ( Broward, Miami-Dade and West Palm Beach Counties)
A Chapter 11 bankruptcy case may proceed in slightly different ways, but it will typically involve a debtor remaining in possession of assets. A business filing a Chapter 11 bankruptcy will generally be able to remain open, under the supervision of the court and for the benefit of creditors.
A trustee may be appointed to help operate the business in some situations, if the debtor is considered to be dishonest or ineffective for some reason or there is a deadlock or ineffective management. In successfully completing the payment plan laid out by a Chapter 11 bankruptcy filing, the debtor would be able to discharge remaining eligible debt. There are also many other potential benefits to Chapter 11 bankruptcy which depend on the debtors particular circumstances and goals.
This may be complicated and can often be expensive to carry out, and as such it is advised that you involve a bankruptcy attorney to help with your case before making any decisions on the proper course of action for you or your business. For the legal guidance you need and the assistance to properly carry out your filing,contact Thomas L. Abrams, a Fort Lauderdale Chapter 11 Bankruptcy Attorney.