Chapter 11 Bankruptcy
At Notinger Law, we have more than 25 years of experience dealing with bankruptcy cases, including Chapter 11 filings. With Chapter 11 bankruptcy, businesses have the ability to start over with their finances. An economic downturn or other issues within the business can lead to financial problems. With Chapter 11 bankruptcy, you have the ability to start over without losing your business. We have handled dozens of Chapter 11 cases for businesses over the last 25 years. Many times, Chapter 11 bankruptcy is the best option for a struggling business with unmanageable debt. We represent debtors, committees, secured and unsecured creditors and equity in all aspects of Chapter 11.
Reorganization of Your Business
With Chapter 11 bankruptcy, you are essentially reorganizing your business. When filing, you will be submitting a plan of reorganization to keep the business and pay those you owe some or all of the debt due during a set amount of time. You will basically be creating a payment plan that you will use to pay off the remainder of your debt or a portion of the debt as settled on with the creditors. Alternatively, you may sell your business.
An individual has the ability to file Chapter 11 bankruptcy, but for the most part, the option is used by businesses in New Hampshire and Massachusetts to get back on track financially. With Chapter 11, creditors will not be able to call you. Many debtors end up being harassed by debt collectors. You are then able to pay off your debt during a set time frame and keep the business instead of losing it.
With Chapter 11 bankruptcy, you will find the process can be confusing and a timely process. Deciding to file is not something you should take lightly. With our attorneys by your side, you will be able to make an informed decision as to if this bankruptcy filing is right for your business.
Securing the Business
When filing Chapter 11, generally you are able to keep your business. For most business owners, the need is financial relief and the goal is to keep the business and hopefully see a turn in the right direction. For most small businesses, filing for this bankruptcy type allows for a halt of debt payment, even if only temporary. This can help the business to rebound and get back on track financially.
After you file Chapter 11, the small business and/or the owner will become the debtor in possession of the business. This creates a business trustee. The business owner remains in control of the company during this process. This helps the business to succeed as you already know how the business needs to be run and you will still be in charge of making major decisions for the business.
With reorganization assistance of Chapter 11 bankruptcy, you have the ability to start over without losing your business. At Notinger Law, we can help. Our attorneys have vast experience when it comes to handling Chapter 11 bankruptcy cases. We work hard to help you understand this process and fight for the quality reorganization of your business to see you succeed in the end. Consult with our attorneys today to see how Chapter 11 might benefit your business.
Chapter 11 Representation
Over the past 25 years the firm has handled all aspects of Chapter 11 representation, from debtors to landlords to committees to secured and unsecured creditors. There is virtually no aspect of Chapter 11 that has not touched the firms attorneys. The firm has been involved in the most active cases in New Hampshire over the past 25 years. Steven M. Notinger has even served as a Chapter 11 Trustee on several cases.
Since the firm has had such a wide variety of Chapter 11 work it is uniquely qualified to represent varied interests in the Chapter 11 process.
Representation of Debtors
The most important point to representing Debtors in Chapter 11 cases, is they must have control of their cash. A Debtor must be able to pay their current bills in bankruptcy in order to survive. A Debtor that cannot do so will be shut down by the Court. It is critical to work with your attorney in advance of filing bankruptcy to develop realistic cash flows that will form the basis for a Chapter 11 presence. Then it is important to develop a strategy to get out of bankruptcy. Please contact Notinger Law to discuss your financial circumstances for a Chapter 11 case.
Representation of Secured Creditors
Whether it is a motion for relief, DIP financing, cash collateral usage or representation in the case in general, the lawyers of Notinger Law have spent their careers representing secured creditor’s interests in Chapter 11. It is the position of Notinger Law that a secured creditor be as productive and efficient as possible in the bankruptcy case, with the goal of maximizing recovery in the shortest period of time.
Representation of Committees
Notinger Law has represented several unsecured creditor’s committees over the past 25 years with the similar goal of maximizing recovery as efficiently as possible. Steven M. Notinger is a Chapter 7 Trustee, who has similar functions to a committee in reviewing transfers and preferences and claims against third parties, so he is very familiar with the typical causes of action that arise in Chapter 11.
Notinger Law has also represented landlords, equity and other interests, like towns, in Chapter 11 cases also.
No matter what your need in Chapter 11 it is likely we have handled it. Please contact us for a consultation as soon as you are able. 603-417-2158.