CHAPTER 11Chapter 11 Bankruptcy is a tool to reorganize debt for corporations and partnerships while allowing the business to continue operating. The majority of Chapter 11 cases will not involve a case trustee but instead rely on the business to continue management of its assets during the reorganization process as a ‘debtor in possession.' Small businesses have the ability to fast track through the Chapter 11 process allowing them to exit bankruptcy more quickly and with less involvement of the Bankruptcy Court.
Several notable businesses have successfully emerged from Chapter 11 Bankruptcy including Mrs. Fields, Borders, Dunkin' Donuts, Eddie Bauer, General Motors, Samsonite and Continental Airlines.
Our attorneys handle both debtors and creditors in Chapter 11 proceedings and have participated in local business reorganizations and large scale cases such as Enron, Circuit City and Bennigan's.