Nevada and Utah Business Bankruptcy Chapter 11
The decision to file bankruptcy is a difficult one and should not be taken lightly. It may, however, be the most effective way of salvaging a floundering business. In a Chapter 11 proceeding, you are generally able to restructure or consolidate your debts and keep the business afloat. In a Chapter 7 proceeding, the business owner closes up shop and any non exempt assets are sold by a trustee.
Several alternatives to filing bankruptcy may exist for your situation. We may be able to work with your creditors to develop a reorganization plan prior to filing for bankruptcy and use the proceedings to carry out the plan. Most creditors are willing to develop a contractual workout.
Our Nevada and Utah business bankruptcy attorneys can help guide you through the process of deciding whether bankruptcy is the best choice for your business.