Michigan Chapter 11 Bankruptcy
Michigan Chapter 11 Bankruptcy
The U.S. Bankruptcy Code provides a legal avenue to help individuals and businesses pay off debt and regain financial stability when facing insolvency. Chapter 11, one of the many types of bankruptcy available, offers protection specifically for sole proprietorships, corporations and partnerships in dire financial straits.
Chapter 11 – Business Reorganization
The unique characteristic of Chapter 11, as opposed to other types of bankruptcy is a provision for reorganization. Under Chapter 11, the debtor typically proposes a plan of reorganization to stay in business, while a bankruptcy court oversees a company’s reorganization concerning contractual and debt obligations. Complete or partial relief may granted by the court for most of the company’s debts and its contracts, allowing the company to start fresh.
Whether your business is considering voluntary filing a petition for a Chapter 11 bankruptcy or your company is being forced to seek reorganization under Chapter 11 by your creditors, you will be dealing with an intricate process with rigorous legal requirements. Choosing an experienced bankruptcy attorney is critical to provide legal advice, walk you through the legal complexities and, ultimately, protect the interests of your business and its stockholders.
At Gudeman & Associates Law Center located in Birmingham, MI, we have wide-ranging experience representing corporations and partnerships of all sizes with Chapter 11 bankruptcy filings. We understand you may have worn out all remedies to stay in business and need legal aid to evaluate options under the U.S. Bankruptcy Code to provide debt relief.
26862 Woodward Avenue, Suite 103, Royal Oak, MI 48067
Tel. (248) 546-2800 
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