How a Chapter 11 Lawyer Can Help 

For small businesses in debt seeking recovery rather than dissolution, Chapter 11 offers a structured path to reorganize and move forward. At Conway Law Group, our Chapter 11 lawyers have the knowledge and expertise to guide you through every step of the process. 

What is Chapter 11 Bankruptcy? 

Chapter 11 bankruptcy is a legal process that allows businesses to restructure their debts while continuing operations under court supervision. It provides a path for financially distressed companies to propose a reorganization plan, renegotiate terms with creditors, and work toward restoring profitability. 

When comparing Chapter 7 vs. Chapter 11 bankruptcy, the key difference lies in the outcome: Chapter 7 involves liquidating a debtor’s assets to pay off creditors, while Chapter 11 gives companies a chance to stabilize their finances and emerge stronger. 

Who Can File for Chapter 11 Bankruptcy? 

Chapter 11 bankruptcy is most commonly associated with businesses such as corporations, partnerships, and sole proprietorships. However, it is not limited to companies alone. High-net-worth individuals whose debts exceed the limits set for Chapter 13 bankruptcy may also file for Chapter 11, using it as a tool to reorganize their financial obligations.

The Chapter 11 Bankruptcy Process 

You must consult a bankruptcy attorney for legal advice, but the Chapter 11 process typically unfolds as follows:

• Filing the Petition: The debtor files a petition with the bankruptcy court, voluntarily or through creditor action.
• Debtor-in-Possession: The debtor retains control of their assets and continues operations under court oversight.
• Reorganization Plan: The debtor proposes a court-approved plan to repay creditors, often by adjusting debts or payment terms.
• Plan Confirmation and Implementation: Creditors vote on the plan, and once approved, the debtor follows it to regain financial stability.

Speak With a Conway Law Group Chapter 11 Lawyer 

If your small business is facing mounting debt, turn to the expertise of a Chapter 11 lawyer. With their support, your organization can explore bankruptcy options confidently. Contact Conway Law Group today for a free case evaluation.