Generally, Chapter 11 is intended for the reorganization of businesses with significant debt, and may allow your small business to propose a plan for profitability post-bankruptcy and continue to operate while temporarily keeping your creditors at bay.
Our attorneys can assist you with all aspects of the liquidating plan, including the administration and distribution of assets to creditors.
Depending on the specifics of your business assets and the liquidating plan, this may include assembling, valuing and liquidating assets, and then paying the debts and/or obligations according to the plan.
For a free telephone consultation, please call 317-800-6181 or toll free at 866-660-6928, or contact us online. We help people file for bankruptcy relief under the Bankruptcy Code.
If you're a small business owner pondering bankruptcy, you have a few filing options.
Except as provided in subsections (d)(2) and (d)(3) of this section and except as otherwise provided in the plan or in the order confirming the plan, after confirmation of a plan, the property dealt with by the plan is free and clear of all claims and interests of creditors, equity security holders, and of general partners in the debtor.