Business Bankruptcy -- Chapter 11
New York Attorneys with the Legal Skills and Experience to Handle Business Bankruptcy -- Chapter 11
Chapter 11 bankruptcy is generally considered the appropriate form of bankruptcy for businesses seeking bankruptcy protection. It is sometimes called "business reorganization." Chapter 13 court-approved debt repayment plans are generally for individual consumers with smaller debts, looking to hang on to significant assets.
Be it observed, however, that Chapter 11 Bankruptcy plans can actually range from straight liquidation plans - wherein the debtor proposes merely to surrender or sell off all assets and pay whatever it can, usually nothing, on its debts - to plans which propose to reorganize the business and pay all debts in full. Creditors have rights to vote on proposed plans, but do not have absolute veto powers, as a general rule. We emphasize that Chapter 11 cases are complex, and that competent legal representation is essential. We can help.
At Genova & Malin, we have the experience and skills to deal with the complexities of a Chapter 11 Bankruptcy. Attorneys Thomas Genova and Andrea Malin have been practicing bankruptcy law for 22 years and 11 years respectively. They know the Bankruptcy Code from front to back. In fact Thomas Genova has been a Trustee for the federal Bankruptcy Court in Poughkeepsie, New York, since 1986. Andrea Malin has been recognized by her peers in the legal profession, who have elected her to serve in past years as a president for the Mid-Hudson Valley Bankruptcy Bar Association.
Chapter 11 Business Reorganization Bankruptcy Attorneys
Creditors may be inclined to support a debt reorganization plan in the hopes of recouping their financial outlays, especially if the business has opportunities for making headway in the marketplace-- if given some breathing space from creditor demands.
A Chapter 11 reorganization bankruptcy provides debtors with a greater opportunity to retain their assets if they agree to pay off their debts according to a plan approved by the bankruptcy court. If the debtor fails to adhere to the plan, however, the court may still order liquidation
If your company or business is facing financial distress, contact us, so that we can make an appointment to evaluate your situation. We will also help you consider non-bankruptcy options, as alternatives to filing for Chapter 11 bankruptcy. You will be treated to our personalized, friendly service. We pride ourselves on professional bankruptcy representation with a personal touch. We understand that financial troubles do create stress for individuals, and for people who have devoted themselves to building a company.
(845) 298-1600
Genova & Malin, Attorneys at Law
New York Chapter 11 Bankruptcy Filing Attorneys
Business Reorganization Bankruptcy Lawyers
With Offices in Wappingers Falls, New York, Serving
Putnam, Orange, Ulster, Dutchess, and Westchester Counties,
And Communities from White Plains to Albany, including
Poughkeepsie, Newburgh, Middletown, and Kingston
