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Chapter 11
Chapter
11 is typically utilized by medium to large business
to attempt to reorganize and/or liquidate debts. Creditors
play a somewhat larger role in the process of drafting
and confirming a plan of reorganization than they do in
Chapter 13. The additional procedural requirements imposed
on Chapter 11 debtors by the bankruptcy code make
the process more cumbersome and more expensive for
the debtor.
As a practical matter, Chapter 11 is a rarely helpful
to individuals or small businesses, but can be
utilized successfully by medium to large business debtors.
Although Chapter 11 cases are filed far less frequently
than either Chapter 7 or Chapter 13 cases, there has been
a resurgence of Chapter 11 filings over the past
several months.
A detailed in-office consultation is a pre-requisite to effectively
advising you regarding the practicality of a Chapter 11 filing.
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Call to schedule a Free initial consultation to
answer your Questions.
(972) 578-1400
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