Chapter 11 Hancock County

HANCOCK COUNTY BUSINESS BANKRUPTCY ATTORNEYS

In this slow economy, many Indiana business owners are finding it hard to stay profitable while satisfying their creditors. Lease and mortgage payments, vendor invoices, SBA loan payments, and other financial obligations can be hard to meet when cash flow is a problem.

Chapter 11 bankruptcy may give your business an opportunity to reorganize and find relief from its debts. Serving large and small businesses in New Palestine, Greenfield, Maxwell, and other communities throughout Hancock County, Indiana, the business bankruptcy lawyers of Saeed & Little LLP, can help you determine if filing for Chapter 11 bankruptcy makes sense for your business, and make informed decisions about restructuring under Chapter 11.

The Chapter 11 restructuring plan

When you file for Chapter 11 bankruptcy in the state of Indiana, you'll be made the debtor in possession (DIP) of your business, and you'll be given four months of exclusive rights to the business restructuring plan. This buys you valuable time to work with your bankruptcy attorney to devise a plan that will satisfy your creditors and the bankruptcy court.

Your creditors will want to ensure that they will receive at least as much under the restructuring plan as they would if your business liquidated its assets and use the proceeds to pay its business debts. Acting as a debtor in possession also means that you are able to continue all normal business operations while in Chapter 11 bankruptcy.

Normal business operations

In Chapter 11 bankruptcy you can continue to operate your business, but you'll need court approval for any actions that would have a major impact on your bankruptcy filing, such as selling assets, buying real estate, expanding, signing or cancelling a lease agreement, or shutting down. This gives you an opportunity to keep your doors open while you work out a reorganization plan with your bankruptcy lawyer.

Whether you represent a corporation, a small business, a limited liability company (LLC), or any other size or class of commercial enterprise, the Indiana Chapter 11 bankruptcy attorneys of Saeed & Little LLP will help you ensure that your business stays in compliance with what the court defines as normal business operations, and will work with you to develop a favorable reorganization plan.

Contact an Indiana Chapter 11 bankruptcy lawyer today

The business bankruptcy attorneys of Saeed & Little LLP, are here to help your business find debt relief during these tough economic times. To speak with an experienced Indiana business bankruptcy lawyer about the needs of your business, contact us today at 317-800-6181.