Businesses may file for bankruptcy under Chapter 7 or Chapter 11. When filing under Chapter 7, the end result is dissolution of the business, not reorganization. Most businesses use Chapter 11 to restructure their finances. That's why a case filed under Chapter 11 is often referred to as a "reorganization."
Chapter 11 cases are usually filed by corporations, partnerships, and limited liability companies. If you have questions on whether Chapter 11 is right for your business, call us today at 919.934.7235.
Additional Services for Eastern North Carolina Businesses:
The information contained in this website is for informational purposes only. You should not take any legal action based on this information without first consulting with a knowledgeable and experienced attorney.
David Mills is designated by federal law as a debt relief agent because he helps people file for bankruptcy.