Skilled Assistance With Chapter 11 Bankruptcy

Recent economic conditions have forced many businesses, large and small, to file for Chapter 11 bankruptcy. But Chapter 11 - also known as "reorganization" - bankruptcy is a complex process that requires experienced guidance and counsel.

Attorney James H. Monroe has been certified in business bankruptcy law by the American Board of Certification. He has practiced bankruptcy law for over 30 years and has the perspective, experience and knowledge you need when your business faces Chapter 11 bankruptcy. Call 407-917-4147 or contact us online to set an appointment for a free consultation at our Orlando office.

The Specifics Of Chapter 11 Bankruptcy

In Chapter 11 bankruptcy, the business makes an attempt to come up with a new payment plan to reorganize its debt. The plan is presented to the creditors in bankruptcy court, who then cast ballots to vote on whether or not to accept it. If they agree, the plan becomes a new contractual agreement between the parties.

If they disagree, you may try to come up with a new plan, the court may impose the plan on the creditors (typically referred to as a "cram-down") or the negotiations may simply end up failing. An experienced attorney can help you negotiate a Chapter 11 bankruptcy reorganization plan that creditors or judges will accept.

What Does A Debt Reorganization Plan Involve?

The Chapter 11 reorganization usually involves an attempt to reduce the value of the business's debts to match the value of its assets. Debts in excess of the value of the business assets are treated as unsecured, and a large percentage of them are forgiven. Secured debts can also be renegotiated or litigated to achieve a lower interest rate and a longer repayment period.

At Lewis & Monroe, PLLC, we help both large and small businesses through the filing process for Chapter 11 bankruptcy. If Chapter 11 bankruptcy is not possible in your case, you may need to consider filing for Chapter 7 bankruptcy. If you own a sole proprietorship, you may also file for Chapter 13 bankruptcy. Only an experienced lawyer can help you decide what path is right for your business.

Call Our Central Florida Attorney

Call 407-917-4147 or contact our firm online today to schedule an appointment for a free consultation with attorney James H. Monroe.