Chapter 11 Business Reorganization

Broward County Chapter 11 Business Bankruptcy Lawyers

Businessman reading binder with accounts to control business financial situation

Small Business Reorganization Attorneys serving Fort Lauderdale, Sunrise, Davie, Plantation, Weston, Tamarac and surrounding areas

Chapter 11 bankruptcy is most commonly utilized by corporations that are overwhelmed by debt and are seeking relief under the federal bankruptcy code. Chapter 11 can also be used by individuals that do not qualify for Chapter 7 or are not eligible to file under Chapter 13 because of the amount of their income or debt. It is important to reach out to a qualified bankruptcy attorney that can take a look at your financial obstacles, go over your options, and help you get back on track.

Ft. Lauderdale Chapter 11 Bankruptcy Attorney

Chapter 11 bankruptcy is commonly referred to as a “reorganization” bankruptcy. The filer usually develops a plan to pay his creditors over time allowing the business to continue operating and catch up with his debt obligations. Individuals who seek relief from chapter 11 bankruptcy usually do so when they are above the unsecured and/or secured debt limits that are imposed on a Chapter 13 bankruptcy. Aron Szabo has experience working with individuals and businesses that file for bankruptcy and can evaluate your particular circumstance.

Chapter 11 Bankruptcy overview

Chapter 11 Bankruptcy for businesses will typically begin with a petition filing with the bankruptcy court. The most common Chapter 11 Bankruptcy is a “voluntary petition” similar to other bankruptcies it is initiated by the debtors. In some cases “involuntary petition” may be filed by the creditors against a debtor when certain requirements are met. After the filing of the petition the debtor needs to file several schedules with the court that outline the company’s, assets, liabilities, incomes, expenses, contracts, leases, and other company documents. During the Chapter 11 reorganization process the debtors typically retain possession of the assets and control of the day to day business operations. Part of the Chapter 11 involves a disclosure statement and a plan to be submitted to the court that outlines the reorganization. For smaller businesses disclosure statements may not be required if the plan submitted has sufficient information. After the approval of the organization plan, creditors will vote on the plan by ballot, and the court will conduct a confirmation hearing.

Szabo Law Group is committed to assisting individuals through their financial obstacles. Aron Szabo personally meets with every client and spends time listening and understanding your particular circumstance. Szabo Law Group will take the time to review your particular financial circumstance and provide a solution either through Chapter 7 bankruptcy, Chapter 13 bankruptcy, Chapter 11 bankruptcy, or another form of resolution. To schedule a free consultation contact the Szabo Law Group today at (954)210–6054.

Personalized attention is what you can expect when reaching out to us.
At Szabo Law Group you are not just a client you are our priority. Let us help you with your case.
The Szabo Law Group has two convenient locations: one in the heart of the leading international corporate park by Sawgrass Mall in Ft. Lauderdale, and the other on Hollywood Boulevard by the Hollywood City Clerk building in Hollywood, Florida.
address1391 Sawgrass Corporate Parkway, Ft. Lauderdale, FL 33323
fax954-680-9805
address2321 Hollywood Blvd,
Hollywood, FL 33020
emailThis email address is being protected from spambots. You need JavaScript enabled to view it.

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Szabo Law Group, P.A. provides personal and small business bankruptcy, foreclosure and immigration representation to clients throughout Broward County including, but not limited to Coconut Creek, Coral Springs, Dania, Davie, Deerfield Beach, Fort Lauderdale, Margate, Plantation, Pompano Beach, Sunrise, Tamarac and Weston.
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