Is it the right time to explore bankruptcy options?
If you have to ask the question, the answer is probably yes.
The rapidly evolving COVID19 outbreak has serious implications for nearly all companies. Many small businesses are asking whether they will be able to survive, and whether they can effectively ramp their business up again.
Bankruptcy is not a magic bullet — and it’s not right for every business. But Chapter 11 offers many companies the chance to restructure debt and stay in business through hard times.
Small Business Bankruptcy Web Series
Sign up for our complimentary web series that offers an introduction to business bankruptcy, what it can and can’t do, and how to predict whether your business is a good candidate for successful restructuring. We will also provide checklists and links to articles and other information to help as you make your decision.
What is subchapter V and could it save your business?
In February, the Small Business Debt Reorganization Act went into effect, substantially modifying the provisions, procedures, and rights of debtors and creditors in small business bankruptcy reorganization cases. This new law amends Chapter 11 of the US Bankruptcy Code by creating Subchapter V, an alternative route for bankruptcy cases that small business debtors can elect to apply.
Subchapter V streamlines the entire bankruptcy process, and grants the debtor a trustee that is an ally, rather than an adversary. Subchapter V’s procedural provisions establish a smarter, faster, and cheaper bankruptcy process that just might save your business.
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Who are we?
North Carolina lawyers led by Board Certified Business Bankruptcy Specialist Jim White. We help clients navigate financial crisis through the smart use of bankruptcy and litigation skills.
Our philosophy is simple: Offer you sophisticated legal work that will have a substantial impact on your life while always keeping an eye on the bottom line.
Tell us about what’s going on. We’ll tell you how we can help.
