Chapter 11 Bankruptcy
Reorganization for Individuals, Sole-Proprietors, Partnerships, Corporations, and LLCs
Chapter 11 offers bankruptcy protection for certain who do not qualify for Chapter 13 as well as for businesses, whether or not they are actually incorporated. For an overview of the Chapter 11 bankruptcy process in Maine, see my articles on the Process of an Individual Chapter 11 Case and the Process of a Corporate or LLC Chapter 11 Case.
There are special rules that govern the use of cash collateral in a Chapter 11 bankruptcy case. My article on Adequate Protection of Cash Collateral in Chapter 11 offers an introduction to cash collateral issues in Chapter 11 cases.
Small Businesses and Chapter 11 Bankruptcy
Small businesses are at the heart of the Maine economy. The Bankruptcy Code recognizes that small businesses are different from large corporations and treats them differently in Chapter 11. To find out if you meet the definition of a small business under Chapter 11 and to learn about what is involved in a small business Chapter 11 case, read my article on Chapter 11 for Small Businesses.
Schedule an Appointment
I can help you decide if a Chapter 11 reorganization is the appropriate debt management solution for you or your business. Please schedule an appointment to meet with me and discuss Chapter 11 bankruptcy in greater detail.