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Los Angeles Bankruptcy Attorneys & Lawyers
Chapter 11 Bankruptcy
Typically for corporations or partnerships, this is a reorganization proceeding,. Individuals, especially those whose debts exceed the limits of Chapter 13, may file Chapter 11.
In Chapter 11, the debtor usually remains in possession of his assets and continues to operate any business, subject to the oversight of the court and the creditors committee.
The debtor proposes a plan of reorganization which, upon acceptance by a majority of the creditors, is confirmed by the court and binds both the debtor and the creditors to its terms of repayment. Plans can call for repayment out of future profits, sales of some or all of the assets, or a merger or recapitalization.
Contact Us Today to discuss Chapter 11 Bankruptcy
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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Los Angeles Lawyers & Attorneys at Law - Southern California Law Firm
Contact Los Angeles Bankruptcy Law Firm
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The information on this Los Angeles Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship. The Law Offices of Burt & Akhkashian and the Law Offices of David D. Diamond do business as Diamond, Burt & Akhkashian. However, both offices are independant of one another and an attorney-client relationship only exists with one entity and NOT Diamond,Burt & Akhkashian.
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