Ogden Business Bankruptcy Attorneys
For businesses struggling to resolve outstanding debt issues, Chapter 11 bankruptcy can be the best way to reorganize their business and emerge more financially viable. However, Chapter 11 — often referred to as business reorganization bankruptcy — is not a simple process. If your business is considering filing for bankruptcy, it is crucial to have an experienced firm representing your business interests.
At the law firm of Eveland & Associates, PLLC, our lawyers are licensed in Utah, Nevada and California to handle Chapter 11 corporate bankruptcy cases. We have extensive experience practicing in bankruptcy courts and provide our business clients with the attention their cases deserve. To arrange a free initial consultation, call our office locally at 801-938-7569 or toll free at 888-697-3536.
Using Chapter 11 to Reorganize Your Business
Within a Chapter 11, reorganization is the primary objective for businesses possessing significant amounts of debt. Once the bankruptcy filing occurs, a filer will have 120 days to submit a reorganization plan to be approved by a creditors committee and the court.
Once the reorganization plan is approved, the business will still be in charge of its overall operations, but any significant decisions must be approved by the court. As a part of the bankruptcy process, debtors are required to pay some of their obligations while discharging others. Depending on the circumstances, a business may also be permitted to discontinue some contracts and leases.
Thinking About Chapter 11 Bankruptcy?
Contact us today for a free initial consultation with one of our Salt Lake City Chapter 11 bankruptcy attorneys.