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Chapter 11
Call 312-372-4400 for an appointment
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Chapter 11: Reorganization Plans for Business Debtors; Discharge of Corporate Debts; Filing fee $1039.00
The purpose of this information is to answer general questions about chapter 11 cases The bankruptcy law is complicated. It cannot be completely explained in a few paragraphs. Therefore, you should not rely upon this information alone to make a decision about whether or not to file a bankruptcy case or what type of bankruptcy case you should file.
You should consider chapter 11 if:
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You own a business that is in financial trouble.
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You own multiple properties that are in foreclosure.
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Your business is a corporation, partnership or limited liability company.
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You do not want to close your business.
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Your business can pay its current expenses but not its past due debts.
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Your business will be able to propose a repayment plan to its creditors.
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Your business can be sold to a viable buyer.
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You are an individual or sole proprietor that does not qualify for a chapter 13.
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Chapter 11 is principally used to reorganize a business but is also available to consumer debtors. Chapter 11 cases are quite complicated. Therefore, we have elected not to attempt to summarize the provisions of chapter 11.
If you are considering a chapter 11 case for a business entity or an individual, we recommend that you schedule a consultation with Ms. Porter. Please call 312-372-4400 or send an e-mail to kjplawnet@aol.com. Please include the dates and times that are convenient for you to meet with Ms. Porter when you leave a message or send an e-mail.
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