Texas Business Debt Attorneys

Chapter 11 Bankruptcy and Debt Reorganization

For sole proprietorships, partnerships, corporations and other business entities, Chapter 11 Bankruptcy (also called business bankruptcy) allows them to reorganize their debt without giving up possession of assets and property. At the law office of Adair & Myers, PLLC, our Houston bankruptcy lawyers assist business clients of all sizes file for Chapter 11 Bankruptcy protections while they make good-faith efforts to repair their financial standing and remain in business.

Dedicated to Protecting the Present and Building the Future

The Texas Chapter 11 bankruptcy lawyers at our firm help our business clients create a custom debt reorganization plan to effectively support their company's future financial and business goals. Contact Adair and Myers to discuss your firm's needs.

The Chapter 11 Business Reorganization Plan

When our clients file for bankruptcy under Chapter 11, their business has the exclusive right to initially submit their plan to repay creditor debt over a specific period of time. The plan details of the company's financial picture, and the payment schedule and amounts are negotiated in bankruptcy court with the affected creditors. A repayment plan may be managed and enforced by the business itself or by a court-appointed trustee.

Advantages of Filing Chapter 11

Chapter 11 offers many businesses an ideal option for straightening out their financial circumstances:

• Continued operation of the business
• Owners maintain control of the business
• Current management may remain in place
• Vital creditor relationships can are preserved

Priority and secured claims are paid in full and unsecured claims paid in amounts similar to those that would have been paid though asset liquidation under Chapter 7. While Chapter 11 may work best for many businesses, unincorporated business clients may find greater benefits by filing under Chapter 13.

Our experienced bankruptcy attorneys will help you determine the best option for your business, and we offer full commercial litigation support related to business bankruptcy matters.

Call Our Harris County Law Firm: 713-522-2270

For sophisticated legal advice and assistance, contact the Houston Chapter 11 business bankruptcy lawyers of Adair & Myers.