The business bankruptcy attorneys at Jordan, Kowal & Apostol have more than 25 years of experience representing corporate debtors, secured lenders and major creditors in Chapter 7 and Chapter 11 bankruptcy matters.
From prebankruptcy planning through plan confirmation and even postconfirmation matters, our Chicago-based business boutique law firm handles represents clients in bankruptcy courts across the nation.
Businesses rely on Jordan, Kowal & Apostol for sound, commonsense bankruptcy advice. We provide our clients with guidance on Chapter 7 and Chapter 11 filings and help them either wind down their businesses or restructure to survive
Chapter 7 business bankruptcy. If a business is not financially salvageable, filing a Chapter 7 bankruptcy petition may be the best course of action to end the business and protect the owner’s personal wealth and assets.
The bankruptcy court requires the debtor company to fill out and file various legal forms. An experienced Chapter 7 business bankruptcy attorney will provide the counsel, strategic advice and drafting expertise needed to properly complete the bankruptcy petition, statement of financial affairs and schedules the court requires.
In a Chapter 7 bankruptcy, the bankruptcy court appoints a trustee, who then sells the assets of the company and distributes the proceeds to the company’s creditors:
Chapter 11 business bankruptcy. A business or partnership that is struggling to meet its financial obligations but could become profitable again if it reorganizes its debts may choose to file for Chapter 11 bankruptcy.
As in a Chapter 7 bankruptcy, a business seeking Chapter 11 protection will need to file a number of legal forms, and an experienced Chapter 11 business bankruptcy attorney is a vital part of the process. Some of these documents are:
The plan of reorganization classifies the claims of creditors and explains how they will be treated in the restructuring. Creditors who will have their contractual terms changed or modified or who will be paid less than what they are owed are allowed to vote on the plan. The bankruptcy court will also evaluate the reorganization plan at a confirmation hearing and will ultimately decide whether to accept it, dismiss the company’s petition or convert the bankruptcy to a Chapter 7.
When a business files for bankruptcy, some creditors mistakenly believe that they can do little to protect their financial interests.
A bankruptcy attorney can help the creditor:
Jordan, Kowal & Apostol has helped hundreds of creditors and lenders navigate the business bankruptcy process and maximize the amount they are entitled to receive. During the course of his career, bankruptcy attorney Gregory Jordan has represented a wide range of creditors, including Ford Motor Credit Co., Fifth Third Bank, RBS Citizens N.A. and CNH Capital America LLC.
To find out how Jordan, Kowal & Apostol can help you with a Chapter 7 or Chapter 11 business bankruptcy matter, contact Gregory Jordan by calling 312-854-7181,e-mailing email@example.com or filling out our online contact form