What is Chapter 11 Bankruptcy?

Chapter 11 reorganization, also called liquidation bankruptcy, is filed by businesses like corporations and partnerships or individuals who owe more than approximately $1.1 million dollars of debt.

What’s the difference between Chapter 7 and Chapter 11 Bankruptcy? Chapter 11 reorganization helps keep businesses afloat while they reorganize their debts and come up with a repayment plan, hence reorganization. Chapter 11 could be beneficial to a company because it allows for the reorganization of debt so that the business can reemerge as a healthy entity.

Benefits of chapter 11 Bankruptcy:

• Adjustment of interest rates
• Protect creditors from harassment
• Borrow post-petition
• Assume or reject unexpired leases or contracts that are deemed unprofitable
• Cure defaulted obligations like lease or mortgage
• Sell property free and clear of liens and interest

Call Chapter 11 Bankruptcy Orlando Bankruptcy Lawyers for a

Free Consultation. 407-412-7041.