Business Bankruptcy

Business Bankruptcy

Bringing Your Business Back

We will fight for your business, so you can get back to doing what you do best. The attorneys at BBF include Board Certified Specialists in Business Bankruptcy Law that have extensive experience advising clients in complex reorganizations and liquidations, as well as out-of-court restructurings across a wide range of industries, including agricultural, produce, retail, healthcare, telecommunication, construction, real estate, education, maritime, automotive, manufacturing, religious organizations, and financial services. BBF provides sophisticated and innovative representation to financially distressed individuals, farmers, and businesses, in seeking bankruptcy relief under Chapters 7, 11, and 12 of the Bankruptcy Code.

Working For You

Bringing Your Business Back

We will fight for your business, so you can get back to doing what you do best. BBF provides sophisticated and innovative representation to financially distressed individuals, farmers, and businesses, in seeking bankruptcy relief under Chapters 7, 11, and 12 of the Bankruptcy Code. The attorneys at BBF are Board Certified Specialists in Business Bankruptcy Law and have extensive experience advising clients in complex reorganizations and liquidations, as well as out-of-court restructurings across a wide range of industries, including agricultural, produce, retail, healthcare, telecommunication, construction, real estate, education, maritime, automotive, manufacturing, religious organizations, and financial services.

Business Bankruptcy

What Does A Typical Case Look Like?

Below are general descriptions of the types of Business Bankruptcy cases. However, if you would like to discuss your or your business’s options with a Board Certified Business Bankruptcy Specialist, please contact BBF to schedule your free consultation. The attorneys at BBF will analyze your situation, and at a minimum, you will receive crucial information about your options, which will allow you to make educated decisions for yourself or your business.

BBF Lawyers Man Filing Business Bankruptcy On Phone
BBF Lawyers Man Filing Business Bankruptcy On Phone

Business Bankruptcy

What Does A Typical Case Look Like?

Below are general descriptions of the types of Business Bankruptcy cases. However, if you would like to discuss your or your business’s options with a Board Certified Business Bankruptcy Specialist, please contact BBF to schedule your free consultation. The attorneys at BBF will analyze your situation, and at a minimum, you will receive crucial information about your options, which will allow you to make educated decisions for yourself or your business.

BBF Man Filing Business Bankruptcy Close Up

Chapter 11 Bankruptcy

Chapter 11 allows businesses and individuals to reorganize their debts and provides a method by which they can continue to operate their businesses free from the ongoing demands and collection efforts of creditors.

Whether facing foreclosure, repossession, loan defaults, collections, or the inability to pay their employees, expenses, vendors, or trade creditors, Chapter 11 of the Bankruptcy Code can be utilized to develop and implement a plan of reorganization that will outline and govern the repayment of all creditors.

Corporations, partnerships, limited liability companies, and individuals are eligible for relief under Chapter 11 of the Bankruptcy Code. Once the bankruptcy petition is filed, the automatic stay prohibits creditors from engaging in any collection attempts, including phone calls, foreclosures, and repossessions, allowing debtors to focus on continuing their operations, free from interference and distraction.

BBF Lawyers Man Filing Business Bankruptcy Side Bar

Chapter 12 Bankruptcy

Chapter 12 can be utilized by farmers or commercial fishermen to reorganize their debts, while continuing to operate their farms, fisheries, or fishing vessels. Chapter 12, as opposed to any other chapter, provides flexibility to debtors, given the nature of agricultural and fishing industries. The main advantage of a Chapter 12 bankruptcy is that the proposed reorganization plan may allow for seasonal payments, as opposed to monthly, to be made when farmers or fishermen sell their crop or catch.

Chapter 12 cases are assigned a Chapter 12 Trustee, who is familiar with agricultural and fishing industries. The Chapter 12 Trustee works with farmers and/or fishermen, as well as their attorneys, to obtain approval of a plan of reorganization that provides for repayment of creditors, typically between three (3) and five (5) years. During this repayment period, the farmer and/or fisherman can continue to farm or fish, making annual payments to the Chapter 12 Trustee according to the plan of reorganization. Once all of the payments are made, all of the remaining debts and obligations addressed in the Chapter 12 bankruptcy case will be discharged.

Chapter 12 is available to corporations, partnerships, limited liability companies, and individuals provided that their assets are primarily related to farming or fishing operations and with respect to farmers, at least fifty-percent (50%) of their debt is related to, or arises from, their farming operations, or with respect to fisherman, at least eighty-percent (80%) of their outstanding debt is related to, and arises from, their fishing operations.

BBF Man Filing Business Bankruptcy

Chapter 11 Bankruptcy

Chapter 11 allows businesses and individuals to reorganize their debts and provides a method by which they can continue to operate their businesses free from the ongoing demands and collection efforts of creditors.

Whether facing foreclosure, repossession, loan defaults, collections, or the inability to pay their employees, expenses, vendors, or trade creditors, Chapter 11 of the Bankruptcy Code can be utilized to develop and implement a plan of reorganization that will outline and govern the repayment of all creditors.

Corporations, partnerships, limited liability companies, and individuals are eligible for relief under Chapter 11 of the Bankruptcy Code. Once the bankruptcy petition is filed, the automatic stay prohibits creditors from engaging in any collection attempts, including phone calls, foreclosures, and repossessions, allowing debtors to focus on continuing their operations, free from interference and distraction.

BBF Lawyers Man Filing Business Bankruptcy

Chapter 12 Bankruptcy

Chapter 12 can be utilized by farmers or commercial fishermen to reorganize their debts, while continuing to operate their farms, fisheries, or fishing vessels. Chapter 12, as opposed to any other chapter, provides flexibility to debtors, given the nature of agricultural and fishing industries. The main advantage of a Chapter 12 bankruptcy is that the proposed reorganization plan may allow for seasonal payments, as opposed to monthly, to be made when farmers or fishermen sell their crop or catch.

Chapter 12 cases are assigned a Chapter 12 Trustee, who is familiar with agricultural and fishing industries. The Chapter 12 Trustee works with farmers and/or fishermen, as well as their attorneys, to obtain approval of a plan of reorganization that provides for repayment of creditors, typically between three (3) and five (5) years. During this repayment period, the farmer and/or fisherman can continue to farm or fish, making annual payments to the Chapter 12 Trustee according to the plan of reorganization. Once all of the payments are made, all of the remaining debts and obligations addressed in the Chapter 12 bankruptcy case will be discharged.

Chapter 12 is available to corporations, partnerships, limited liability companies, and individuals provided that their assets are primarily related to farming or fishing operations and with respect to farmers, at least fifty-percent (50%) of their debt is related to, or arises from, their farming operations, or with respect to fisherman, at least eighty-percent (80%) of their outstanding debt is related to, and arises from, their fishing operations.

Business Bankruptcy

Creditor Representation

BBF also provides comprehensive representation to creditors in connection with liquidations and reorganizations filed by debtors under Chapters 7, 11, 12, and 13 of the Bankruptcy Code.