Bankruptcy can be an intimidating prospect, both for an individual and for a business. Fortunately, we have experience helping both people and businesses navigate the complexities of the bankruptcy process and find solutions to their unique concerns. We are dedicated to the prosperous futures of Maryland businesses in Chapter 11 bankruptcy.
Chapter 11 is a type of bankruptcy that allows for the reorganization of debts, providing a fresh financial start for businesses. This is an appropriate option for companies that are no longer able to pay creditors and keep up with necessary expenses. Under this type of bankruptcy protection, the business typically retains control of its daily operations, but will be required to honor a court-approved reorganization plan.
Most businesses that have applied for Chapter 11 bankruptcy will not be required to make payments on debt balances until the bankruptcy plan is approved by the court. The bankruptcy plan will focus on reorganizing business debt; in some cases, the plan may not require the repayment of pre-bankruptcy balances. Some businesses are able to complete the Chapter 11 bankruptcy process in just a few months.
We know how hard it can be when your business is facing financial complications, but working with an experienced legal professional can provide peace of mind and knowledgeable guidance during these difficult times. We are here to support and assist Maryland businesses in Chapter 11 bankruptcy and help those entities pursue a strong financial future. Learn about available legal options by contacting a member of our experienced team regarding a complete case evaluation.