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chapter 11 bankruptcy

To learn more about your rights under federal bankruptcy law, visit our About Bankruptcy section or our blog.

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 Chapter 11 bankruptcy attorneys in Brooklyn New York, work closely with financial experts. Our lawyers develop 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 one of our experienced Chapter 11 bankruptcy attorneys, schedule a time to speak with us in our Brooklyn New York office by email or phone: 718-795-2415.

Over 60 years of Combined Experience in Bankruptcy

Chapter 11 bankruptcy provides a mutually beneficial solution for both businesses and their creditors. Creditors benefit, because they receive a greater percentage of the debt than they would if the business were to be liquidated. Businesses benefit, because they receive 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.
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