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Chapter 11 Bankruptcy

Chapter 11 Bankruptcy

Business Bankruptcy | Company Bankruptcy | Corporate Bankruptcy | Family Owned Business Bankruptcy

Chapter 11 bankruptcy is a reorganization procedure used by businesses, including sole proprietors, partnerships, and corporations. The debtor in a Chapter 11 case files a petition which includes a list of assets and liabilities, and a detailed statement of financial affairs. The debtor will typically act as his own trustee, called a “debtor in possession”, and will remain in possession of all estate property. The court can appoint a trustee for cause shown, including mismanagement.

Our Chapter 11 bankruptcy attorneys have significant experience working with businesses and companies of all sizes in filing for bankruptcy.

About one month after the filing, the debtor and his attorney attend a meeting of creditors. The debtor files monthly operating reports, showing income and disbursements, profit and loss, and a balance sheet, and pays quarterly fees to the U.S. Trustee based on the amount of money disbursed.

Chapter 11 Bankruptcy – Filing a plan:

The debtor has the exclusive right to file a plan during the first 4 months. Thereafter, creditors are permitted to file plans. The Chapter 11 plan is accompanied by a disclosure statement, which describes the debtor’s financial circumstances, including:

Our Massachusetts Chapter 11 attorneys will guide you through the entire Chapter 11 bankruptcy process and be available to you to answer any questions.

You circumstances are unique and Bostonian Legal Group’s attorneys will help you determine whether Chapter 11, or some other form of bankruptcy or non-bankruptcy option is best for you. We look forward to making your case our priority.

Call Us Today For Your Business Needs: 617-956-0956

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