There are numerous options available for businesses that are seeking to either liquidate their corporate assets or who wish to financially rehabilitate their company. Under Chapter 11 bankruptcy, it is geared towards helping companies reorganize their debts and keeping their businesses open.
The benefits of filing a Chapter 11 bankruptcy include:
- It allows companies to propose their own repayment plans
- It enables a corporation to remain in operation
- It prevents a company from losing its assets
- It allows corporate debtors to repay their debt over a period of time
- It includes all corporate debts
Chapter 11 bankruptcies can be extremely complicated so it would be helpful to sit down with a bankruptcy professional that can assess the facts of your case. Contact us today so we can help you save your business!