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38 New Street, Huntington, NY

Rosen, Tsionis & PizzoPLLC · Attorneys at lawRosen, Tsionis & Pizzo, PLLC
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03 · Businesses

Chapter 11 bankruptcy for businesses and individuals

Chapter 11 is designed to help save businesses of all kinds from overwhelming debt to allow them to either reorganize, sell their assets, or liquidate in an orderly fashion.

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Chapter 11 is also available for certain individuals who do not qualify to file Chapter 13 in order to reorganize and save their homes and other assets. Rosen, Tsionis & Pizzo, PLLC has successfully handled restructurings for businesses involved in healthcare, media, manufacturing, real estate, and service industries.

Our experience includes

  • Reorganizations of small to mid-size companies on Long Island and in New York City
  • Sales of assets, including real estate, and orderly liquidations
  • Individual Chapter 11 for people who don’t qualify for Chapter 13
  • Healthcare, media, manufacturing, real estate and service industries

Questions

Common questions

General information only; every situation is different. Ask us about yours.

Can an individual file Chapter 11?

Yes. Chapter 11 is available for certain individuals who do not qualify to file Chapter 13, so they can reorganize and save their homes and other assets.

Does a business have to close?

Not necessarily. Chapter 11 lets a business reorganize, sell its assets or liquidate in an orderly fashion. We’ve successfully reorganized several businesses on Long Island and in New York City.

Do I need an attorney for Chapter 11?

Yes. Debtors in Chapter 11 cases must be represented by an attorney.

What happens after the plan is confirmed?

Discharge of debt is immediate after a Chapter 11 confirmation, and the confirmation creates new contracts between the debtor and creditors.

What are monthly operating reports?

Chapter 11 debtors report to the Office of the United States Trustee every month. Our Current clients page has sample monthly operating report forms and the U.S. Trustee’s guidelines for debtors in possession.

Reported decisions

Related cases we've handled

All decisions

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Not sure which chapter fits?

Our attorneys will thoroughly explain the process and assess whether bankruptcy may be right for you. Call us or send a message to get your free consultation.

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