Encino Chapter 11 Bankruptcy Attorney
Protecting Businesses in Encino and Nationwide
Price Law Group provides high-quality representation to businesses in need of protection
from creditors. In many situations, the most efficient tool to accomplish
this is Chapter 11 Bankruptcy. This affords the business protection from
lawsuits while the business works out a plan to handle its obligations.
Our attorneys are available to advise business executives of their options and the benefits
of Chapter 11. You are urged to contact a
bankruptcy attorney for help.
What Are the Benefits of Chapter 11?
In some situations with only a few creditors are impinging on a company,
debt negotiation or
debt litigation may be enough to bring order to a situation. However, where many creditors
are pressing their claims or there are burdensome obligations barring
the road to recovery, Chapter 11 is often called for.
Under Chapter 11, you continue to run your business under the supervision
of the court. You keep all of your assets and receive protection against
lawsuits as well. Your responsibility is to propose a plan for covering
restructuring your financial situation and covering your debts. You many
propose to cancel certain obligations that weigh you down such as an unfavorable
lease obligation or oppressive pension fund requirement.
You propose the plan to a committee of creditors for their approval. Even
if a majority of creditors refuse to approve the plan, you may override
their objections by submitting it to the court for approval anyway. Once
your business is back on track, you may petition to close Chapter 11 and
return to unfettered control of your business.
Contact a Chapter 11 Bankruptcy Lawyer
Our legal team has helped many business clients regain their solvency through
Chapter 11. We urge you to contact us for a consultation.
Contact a Chapter 11 Bankruptcy Attorney
at the firm to discuss the needs of your business for bankruptcy protection.