New York City Chapter 11 Lawyers
When considering methods to overcome debt, one of the most important things for businesses to understand is that Chapter 11 is not like other forms of bankruptcy. It is far more complex. We are experts in business bankruptcy.
At the Manhattan-based law firm of Rich Michaelson Magaliff, LLP, we have represented clients in the New York City area, Delaware and nationally in some of the most challenging and visible corporate bankruptcy cases in recent years. This is a regular part of our practice. We know it inside and out.
Making Chapter 11 Bankruptcy Work
Our first step will be to determine if Chapter 11 is indeed the right option. While this form of bankruptcy is often referred to as business or corporate bankruptcy, it is not always the only option available to businesses and should not be the first alternative. Depending on the size and structure of the business, as well as the amount of debt, other forms of bankruptcy or nonjudicial alternatives may be available.
When we determine that Chapter 11 bankruptcy is right for our client, we will begin the process of creating a reorganization plan to ensure that the Chapter 11 case will have the best chance of success. Having handled many of these Chapter 11 cases, our bankruptcy lawyers know how to create plans that will not only be confirmed by the bankruptcy court but also be effective in targeting business debt. Depending on the situation, these plans may require downsizing and include means to reduce expenses.
In many cases, we can use the reorganization process not only to eliminate debt but also to lay the groundwork for a long-running and successful business. However, if appropriate, we can also work with a client to shut down operations in the most efficient manner.
Discuss Business Debt With A Skilled Attorney
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.