There are two chapters of the Bankruptcy Code under which businesses file for bankruptcy protection: Chapter 11 and Chapter 7.
The owners of a business that is financially troubled can get the business back on track by filing a Chapter 11 bankruptcy to reorganize and restructure it.
If the owners conclude that reorganization is not feasible, they can file a Chapter 7 bankruptcy to liquidate the business altogether.
If you are unsure which option is best for your business, get help from a business bankruptcy attorney who is a board-certified specialist in bankruptcy law. Call the Law Offices of Nicholas Gebelt at (562) 777-9159 to discuss your options.
- Business Chapter 11
- Business Chapter 7
- What Is Your Experience In Guiding Businesses Through Financial Difficulties?
- What Not To Do Before, And Immediately After, Filing Bankruptcy?
- Bankruptcy vs. Negotiated Settlement In California
- When Evaluating A Small Business’s Situation, What Are Some Of The Most Important Questions You Ask To Determine How To Advise The Business Owner On What The Next Best Steps Might Be?
- Should We Pay Any Creditors Back, Especially Those We May Want To Have A Business Relationship With In The Future?
- As A Business, Should We Contact Any Partners We May Owe And Give Them A Heads-Up That We May Be Filing For A Bankruptcy?
- Is It Better To Just File For Bankruptcy Or Should I Just Dissolve My Business?
- Do All Owners And Partners Need To Be Named And Agree On A Business Bankruptcy?
- Before The Small Business Reorganization Act Of 2020, What Were The Only Real Options For Struggling Businesses Considering Bankruptcy? Why Was This Not Enough?
- Will I Be Able To Operate Business As Usual During A Small Business Bankruptcy?
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