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An Overview Of Chapter 11 Bankruptcy In Minnesota

Chapter 11 bankruptcy is a legal proceeding under chapter 11 of the United States' Bankruptcy Code, which permits reorganization of business or personal debt.

In a chapter 11 bankruptcy, unless a separate trustee is appointed for cause, the debtor acts as a trustee of the business called a Debtor In Possession. A Chapter 11 bankruptcy permits the debtor in possession numerous powers to restructure its debts, obtain new financing, accept or reject contracts, and resolve litigation or other legal claims in the Bankruptcy Court.

Filing chapter 11 bankruptcy is complex. The Minnesota bankruptcy attorneys at Weber Law Group, P.A. can help you file for chapter 11 bankruptcy protection for you or your business. Please contact us or use our online scheduler to setup a free consultation, or submit your information for review and we will contact you.

To read about who may benefit from filing a chapter 11 bankruptcy, click the 'Next Article' button below.


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