A filing under Chapter 11 of the Bankruptcy Code allows a business to continue to operate without creditor pressure – through foreclosure, judgment enforcement, tax levy or other actions – with current management rather than a court appointed trustee in control.
Chapter 11 can be a very flexible tool, whether management is seeking to keep the company going through a reorganization plan or through a sale process as a going concern.
Chapter 11 is also complex and is unique to every business’s circumstances, so choosing a law firm with experience in Chapter 11 – not just other types of bankruptcy – is crucial. Our firm has handled some of the largest and high profile downstate Illinois Chapter 11 cases during the past fifty years, including both reorganization plans and sales.
Contact us to schedule an appointment to discuss all of your business’s options, including Chapter 11.