Chapter 11 Reorganization
If you are facing pressure from a few creditors, it may be beneficial to negotiate the debt or settle the accounts. However, if the creditors are numerous, or the amounts unmanageable, Chapter 11 may be your best option.
In a chapter 11, you continue to run the business, only under the supervision of the court. You retain all your assets, and are protected from lawsuits by your creditors. You can use this breathing room to restructure debts, liquidate certain assets, and otherwise find a way to turn a once-struggling business into a thriving one. Sometimes, the only thing you need is time.
Kenny Rogers one said "You gotta know when to hold 'em, and know when to fold 'em." This proves true in life, as well as business. Sometimes, despite the best efforts and the greatest minds, a business must close. When discretion is the better part of valor, our attorneys can help you end the business in a way that is best for the business. Whether it's liquidating the assets, selling to a competitor or another business, or merely walking away, our attorneys are here to help.
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