Brooklyn New York Chapter 11 Bankruptcy Attorneys
Chapter 11 bankruptcy is referred to as “business reorganization” bankruptcy. It is specifically aimed at relieving the debts of businesses and corporations. Businesses that file for Chapter 11 are able to continue with almost normal operation as a debtor-in-possession.
Our attorneys work closely with financial experts in developing debt restructuring plans that relieve companies of overburdening debt that can interfere with regular business operations. While each case is different, your business may be able to avoid liquidation if a carefully crafted debt reorganization plan is presented and accepted by the creditors’ committee. As a firm dedicated exclusively to bankruptcy law, our attorneys understand what needs to be done in order to salvage what you have worked hard to build.
To discuss the needs of your business with an experienced New York bankruptcy attorney, contact Rosenberg, Musso & Weiner.
Over 60 years of Combined Experience in Bankruptcy
Chapter 11 bankruptcy provides a mutually beneficial solution for both businesses and their creditors. The creditors benefit, because they receive a greater percentage of the debt than they would if the business were to be liquidated. The business benefits, because it receives a second chance to continue operating, while still paying a portion of its debts.
The Reorganization Plan
Filing for Chapter 11 bankruptcy can only be successful if you receive the consent of your business’s creditors. The creditors’ committee is presented with a debt repayment plan that typically explains how they will benefit. Creditors will only accept the plan if they believe they will receive more funds under the plan than from liquidation. It is very important that you hire an attorney who is capable of structuring a plan and negotiating with creditors.
To learn more about your rights under federal bankruptcy law, visit our About Bankruptcy section or our blog.
Call us at (718) 855-6840 or (800) 297-6840 to arrange an initial consultation and find out what our New York business bankruptcy lawyers can do for you. Contact our Brooklyn Chapter 11 bankruptcy lawyers.
No-cost 30 minute consultations
Offices in downtown Brooklyn and Melville
Rosenberg, Musso & Weiner, L.L.P.
Brooklyn, NY