Brooklyn NY Business Bankruptcy Lawyer
Businesses facing bankruptcy must either reorganize their debt or liquidate their assets. Filing for Chapter 11 bankruptcy provides businesses with an opportunity to restructure loans and company debt in a way that satisfies creditors without necessarily going out of business. If a debt reorganization plan fails to provide creditors more money than they would receive if a company were liquidated, you may have no other choice than to liquidate your assets.
At the law office of Rosenberg, Musso & Weiner, our attorneys work closely with business clients facing bankruptcy. Consulting financial experts, accountants, and financial planners, our lawyers evaluate your company’s financial situation and the legal options available to you. We are prepared to work with trustees and creditors’ committees in developing an effective, workable restructuring of your business debt.
Understanding what your options are is essential for protecting your business and company assets. To schedule an appointment and learn how we can help you, contact the business bankruptcy lawyers at Rosenberg, Musso & Weiner today.
Considering Business Bankruptcy
The law office of Rosenberg, Musso & Weiner advises and represents companies in regard to the following issues related to bankruptcy:
- Vendor agreements
- Pension plans
- Bank loans
- Promissory notes
- Stock evaluation
- Tax reporting
Declaring Bankruptcy: The Role of the Court
When a business declares bankruptcy, the court will supervise the creditors’ committee appointed by the United States Trustee. Businesses are required to develop and submit a debt reorganization plan amenable to creditors’ committee and ultimately the court. The creditors’ committee may offer a reorganization plan of its own, depending on the make-up of the committee and their level of exposure. While each case is different, creditors are more inclined to accept a plan if it allows them to recover more money than if a company’s assets were simply liquidated.
As business bankruptcy attorneys, we have years of experience in negotiating terms that restructure debt while allowing companies to continue their day-to-day business operations as a debtor-in-possession. We know how to work effectively with creditors in identifying financial terms agreeable to everyone involved. Consultative and prepared, we’re positioned to provide your company ongoing legal assistance in the weeks and months that follow after your bankruptcy has been filed and approved.
Questions or Concerns? Contact Rosenberg, Musso & Weiner Today
Filing for bankruptcy can be a complicated, stressful time for everyone involved. Get the information and assistance you need to achieve peace of mind and reassurance – contact the business bankruptcy attorneys at the law office of Rosenberg, Musso & Weiner today.