Services in Mesa, Arizona – Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a debt relief option primarily for businesses, including corporations and partnerships. Specifically, Chapter 11 bankruptcy allows a business to keep operating while reorganizing the business in a way that can make it more profitable.
Additionally, the best thing to do if you are a business having financial difficulties is to call My AZ Lawyers. The experienced debt relief attorneys at the firm will give you the information you need. As well as, answer any questions that you may have. In particular, My AZ Lawyers will assess your business’ financial situation and offer viable options in order to come to a resolution that is best for the business.
My AZ Lawyers represents individuals and businesses in Mesa, Arizona
It is important to know that the debtor in possession has important rights and obligations in a Chapter 11. The debtor in possession can make decisions, becomes the trustee of the bankruptcy estate, and is obligated to run the business in the best interests of the creditors. The debtor in possession must get permission from the bankruptcy court; specifically, if a decision does’t fall into the normal course of business.
Furthermore, having knowledge of the Chapter 11 bankruptcy law and thorough planning is a key element. A key element to a successful Chapter 11 bankruptcy. Lastly, the attorneys at My AZ Lawyers work with businesses early on in the process to help the company gain maximum advantage out of filing a Chapter 11.