While Chapter 11 bankruptcy might largely be used by businesses, in certain circumstances individual debtors can benefit from the protections provided. Despite the increased complexity, based on financial considerations, a skilled bankruptcy attorney might recommend Chapter 11 reorganization over Chapter 13.
At Wayne Greenwald, P.C., we have considerable experience guiding both businesses and individual debtors through the process of filing for bankruptcy. Based on your needs and the financial challenges you face, we can answer your questions and provide the mindful representation you need.
Our Breadth Of Experience
While many firms focus their attention on one or the other — consumer or business bankruptcy — at Wayne Greenwald, P.C., we have significant experience in both. As a trusted legal resource and a leader in the field of bankruptcy and debtor-creditor law, our clients are often referred to us by legal professionals and industry experts.
Chapter 11 Plan Confirmation
One of the most challenging aspects is achieving plan confirmation between the debtor and his or her creditors. Gaining approval typically follows one of two methods.
- In the consensual method, the debtor obtains unanimous acceptance of the Chapter 11 plan by all impaired classes of creditors.
- If the debtor cannot obtain unanimous acceptance of the Chapter 11 plan, the cram down method is an alternative. If at least one class of creditors accepts the plan and the plan itself meets very strict criteria, the debtor can achieve confirmation.
While there are similarities to Chapter 13 bankruptcy, it is crucial that an individual speaks with an attorney who can properly guide him or her through the process. Based on your income, assets and plan for debt reorganization, Chapter 11 might be the best solution for your financial challenge. Let us guide you through the process.
How Does This Benefit You?
As an efficient firm, we pride ourselves on providing high-quality legal services at economics not available at most larger firms. With more than 30 years of legal experience and a thorough knowledge of bankruptcy law, we are confident in our ability to provide the guidance you need.
Contact Wayne Greenwald, P.C.
To speak with a New York Chapter 11 bankruptcy attorney, contact Wayne Greenwald, P.C. We serve clients throughout New York and across the nation. Call us at (212) 739-7599 or toll free at 888-496-1553 to contact our law office in New York City. You may also contact us online.