Chapter 11 Bankruptcy Requirements

Answer:

Once in a while a client will ask whether the business has to be in operation during a Chapter 11 case. The short answer is, probably. If the company’s not actually in business, it may be better to consider a Chapter 7. I really must stress, however, that every situation is different and it requires a careful consideration of all the facts for the debtor – the assets, liabilities, the monthly income, the expenses – and a thoughtful strategic planning session with the client.

I’ve been representing bankruptcy debtors for about 30 years throughout the state of Florida. I provide a free consultation. I’m happy to help.