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Do Not Allow Overwhelming Debt to Destroy Your Business
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.
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:
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.
Advertising Disclosure: The material on this website is for informational purposes only and does not create an attorney/client relationship or otherwise constitute legal advice. You should seek the advice of an experienced bankruptcy attorney to assess the particular facts of your case. Persons depicted on this website include attorneys in the Florida and Georgia offices of Zalkin Revell, PLLC, as well as photographs of persons who are not attorneys or clients of the firm. Case results depicted are unique to the facts and law applicable to that particular case and should not be relied upon to suggest a similar result in your matter.
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