Running a company is not by far a simple task, as this world is full of challenges. Unfortunately, a rather considerable number of individuals seem to find themselves stuck in all kinds of situations that might even jeopardize the future of their company, putting at stake its entire activity. The world of business has been fighting a financial crisis and in situations of this kind, entrepreneurs might not find other solutions than accepting the services of creditors. This is the moment in which in things complicate themselves, as there may come a time in which debts will not be covered by profit. If this should happen, you have to be prepared and think of a plan to resolve this unfortunate situation.
Such circumstances have the power to frighten any entrepreneur, because they immediately envision bankruptcy, a phenomenon that has the power to destroy any company from the ground. Still, it is relevant to mention that corporate insolvency, as this phenomenon is called, does not always have to end up in bankruptcy. Luckily, there are other means to resolve this issue and here are some examples of such solutions: negotiations with creditors, reanalyzing cash flow, debt reconstruction, asset liquidations and the list may continue.
Collaborating with the Subranni Zauber LLC team of attorneys, specialized in business reorganization, clients have plenty of alternatives to choose from. Having over 40 years of experience in the domain, you may rest assured that we will provide you with the assistance and guidance you need. After closely looking at each solution, the team working here will decide upon the best alternative for your needs.
The right moment to file for bankruptcy
Business owners should understand that bankruptcy is not at all simple and it should be done in the correct manner. Together with the right attorneys, business owners can declare bankruptcy. At times, after thoroughly studying the situation, filling for bankruptcy might be the adequate solution, as it can spare the business owner from further losses.
Luckily, Chapter 11 may come to your rescue, because it is clearly stipulated that you may continue to work. However, at the same time, the debtor-in-possession should consider all options, put together a plan to reorganize the business and to finally pay the sums of money owed. Although filling for bankruptcy might not be an easy decision, Chapter 11 stirs things up in your favorite, even offering you the chance to start over. On the other hand, there is Chapter 7, which refers to bankruptcy liquidation. This means closing up your business and selling all the firm’s assets, redistributing their financial value to creditors.
Areas of Practice
Subranni Zauber is an experienced company that has been operating on the dedicated market for more than 40 years, gaining a positive reputation. This company can answer various business financial problems in the accurate manner, placing the best interest of the client first. We are a law firm with experienced in many fields. For further details, you may contact Subranni Zauber at (800) 391-5706. If you should require more details regarding the services offered, click here to read about our practice areas.