You often hear Chapter 11 bankruptcy in connection with large corporations such as United Airlines or General Motors. This does not mean that Chapter 11 filings are limited to huge, multi-million dollars companies, however. Chapter 11 bankruptcy can help businesses of any size, and often helps prevent small business owners from having to close their […]
Common Definitions Used by Bankruptcy Attorneys in a Chapter 11 Plan
Bankruptcy attorneys often use specialized terms to communicate with each other and the Court. This can be confusing for anyone who is not a bankruptcy attorney. Attached is a list of terms commonly used in a Chapter 11 Bankruptcy Plan, along with their definitions. Moreover, many of these terms are also used in chapter 7 […]
An Experienced Bankruptcy Attorney can obtain a Chapter 11 Final Decree.
An experienced bankruptcy attorney can guide you through the Chapter 11 process and obtain a Final Decree. Section 350(a) of the Bankruptcy Code provides that “[a]fter an estate is fully administered and the court has discharged the trustee, the court shall close the case.” 11 U.S.C. ยง 350(a). Bankruptcy Rule 3022, which implements section 350 […]
