When a business is having financial difficulties, there are a lot of options on the table to help them navigate through these rough waters. One of these choices is Chapter 11, though this doesn't necessarily mean that the company itself will have to shut down because they filed for bankruptcy. No matter what choice is eventually made, there are often many parties that are affected by the bankruptcy -- not just the company itself.
In fact, a Chapter 11 bankruptcy filing can be just one part of a larger financial strategy that a business employs to protect itself and ensure a healthy future for the company. The business could go through a financial restructuring period to help them get a handle on their obligations; and third parties could become involved to help the business.
No matter what strategy the company employs, it is vital for the business to consult with an experienced attorney that has dealt with Chapter 11 bankruptcy and corporate financial concerns and legal problems.
If you are in need of a legal representative in this regard, please consider Rich Michaelson Magaliff Moser, LLP. We can help our clients achieve their goals by presenting creative, flexible solutions to their financial concerns.
We also have a wealth of experience helping companies in a broad range of industries. From healthcare to automobiles, energy to publishing, there are many ways that we can provide the legal help you need during a financial distressing time. Consult with us if your company is in need.