Chapter 11 bankruptcy is a reorganization form of bankruptcy that, while available to individuals, is most commonly used by corporations that need to restructure their debt.  It is a very powerful tool that allows corporate entities to "trim the fat", eliminate certain bad debt, close down unprofitable divisions or stores, and avoid bad contracts.  Corporations are often able to emerge from Chapter 11 as smaller yet more profitable business entities.

Chapter 11 bankruptcy can also be used to help wind down, or liquidate, a corporation.  While liquidation is also available under Chapter 7, there are advantages to wrapping up business and shutting down through the use of Chapter 11.

The Law Office of Chad M Sherwood provides expert legal service and advice to businesses and individuals who are considering a Chapter 11 filing, as well as representation of creditors facing a Chapter 11 filing by one of their debtors.  Contact us today and schedule an appointment to review your situation.

We are a debt relief agency. We help people to file for bankruptcy under the Federal Code.