Chapter 11 Small Business Bankruptcy
I am now accepting small business clients (Corporations, LLCs, etc.) who are considering filing for protection under Chapter 11. Usually, a small business that files under Chapter 11 can expect to be in bankruptcy for 12 to 18 months and to incur legal fees in excess of $20,000. The majority of small businesses that file a Chapter 11 bankruptcy case will end up converting and liquidating through a Chapter 7 because of unexpected costs and fees.
However, a prepackaged Chapter 11 case can be completed much more quickly with lower legal fees. I recently represented a client in San Diego County where the bankruptcy petition was filed in January 2010 and the Debtor's plan of reorganization was confirmed in March 2010.
A prepackaged case is not right for everyone. Appointments are now available to discuss your particular situation and why a prepackaged case might be the way to go.
Call Link W. Schrader at (310) 413-6924 or email to link@link-schrader.com.
Services provided in Los Angeles, Orange, and San Diego Counties.
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