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Albany, GA  229.435.1611

Santa Rosa Beach, FL  850.267.2111

ZalkinRevell

Bankruptcy and financial reorganization attorneys

​Do Not Allow Overwhelming Debt to Destroy Your Business

Chapter 11
Chapter 11 Bankruptcy is a comprehensive reorganization of debts which may be utilized by corporate or other business entities, real estate holding special purpose entities, or large debt or high income professionals or other individuals.

Chapter 11 Business Reorganization
The United States Bankruptcy Code provides the Chapter 11 process of reorganization to preserve operating businesses, thereby preserving jobs and alleviating a business operation of onerous debt terms.  A Chapter 11 is often utilized to restructure debt terms to a manageable level and to return a business to profitability.

Reorganize

Chapter 11 Real Estate Holding Entities

Certain business entities (usually Limited liability Companies, LLCs) are created as special purpose real estate holdings vehicles.   Condominium complexes, apartments, shopping centers and other properties are often held by these special purpose holding entities.


Changing market conditions, property values, unexpected vacancy levels or other conditions can cause a financial emergency.  The attorneys at Zalkin Revell are experienced in representing such entities in the reorganization process.


Chapter 11 for Individuals

Most individuals who pursue bankruptcy protection under Chapter 11 are professionals or other persons with high income or high debt beyond the limits of a Chapter 13.   Some are individuals who had invested in real estate prior to the crash in that market.  Chapter 11 may be utilized to reduce the secured amount owed on such investments down to the current value of the property, as well as to adjust other mortgage terms.  Chapter 11 individuals may be able to strip off second mortgages on real estate, thereby returning the investment to viability.


Chapter 11 Bankruptcy is far more complex than Chapter 7 or Chapter 13 cases and requires experienced counsel.  Zalkin Revell has represented professionals, corporations and single asset real estate entities in Chapter 11.


Common Benefits to Chapter 11 Petitioners Include:

  • Automatic stay of all lawsuits, foreclosures, garnishments, levies, repossessions or other creditor collection actions.
  • Recovery of certain money, property or other assets which may have been taken by creditors or others prior to bankruptcy petition.
  • "breathing room" by deferring certain payment obligations pending your proposal of a plan of reorganization.
  • Continued operation of the business entity by current operational management.
  • Adjustment of interest rates and other terms on secured obligations.
  • Assumption or rejection of executory contracts and leases.
  • Authorization to sell property free and clear of all liens or encumbrances.
  • Restructure and extend unsecured tax debts.
  • Emerge from Chapter 11 financially reorganized with the ability to focus on business or professional growth.


An experienced Chapter 11 attorney with Zalkin Revell will be pleased to confer with you regarding the viability of Chapter 11 bankruptcy protection for you or your business.


Chapter 11