A Reorganization Plan for Businesses
Some business have an overwhelming amount of debt, but still have enough prospects to turn things around if they could only stop the bleeding. Chapter 11 bankruptcy is an option for businesses in this situation.
At the law firm of Michael M. Malinowski PLC in Grand Rapids, Michigan, I offer a free initial consultation to answer your questions about Chapter 11 bankruptcy. I am a lawyer with 25 years of experience representing small manufacturing businesses, restaurants, trucking companies and other businesses in bankruptcy workouts.
What is Chapter 11 Bankruptcy?
Chapter 11 bankruptcy gives a business the opportunity to reorganize by obtaining relief from a portion of its debts. By obtaining debt relief, cash flow can be directed to other areas of the business in an effort to make it stronger and more competitive.
Chapter 11 bankruptcy is perhaps the most difficult form of bankruptcy protection. You and your attorney must convince your creditors that further credit is warranted while you operate under bankruptcy. However, I have generally been successful with the Chapter 11 plans I have proposed.
To be successful in a Chapter 11 bankruptcy, you must be able to operate profitably in the near future or have enough cash to continue until the business turns around. Filing Chapter 11 bankruptcy won't fix your business. It will give you breathing room, however, to reorganize your business and turn it around. You can preserve assets you need to operate and renegotiate leases.
Learn more about bankruptcy protection for business owners.
Free Bankruptcy Attorney Consultation
You don't have to live with the stress of unmanageable business debt. For a free consultation about restructuring your business in a Chapter 11 bankruptcy, call me, lawyer Mike Malinowski, at 888-339-6017 or fill out our contact form on this Web site. My law office is in Grand Rapids, Michigan.
