At the Moher Law Group, we assist businesses with reorganization strategies, direct negotiation with creditors, and business reorganization bankruptcy. We have successfully filed and confirmed plans in many chapter 11 bankruptcy cases in California. We have also assisted many business clients in directly resolving debts, including tax and secured debts, outside of the bankruptcy process. Our goal is to effectively and directly resolve business debt situations in the most cost effective manner possible.
Often, businesses can effectively use chapter 11 bankruptcy to shield themselves from aggressive creditors, preserve their cash resources and other assets, and obtain breathing room to allow the business to reorganize and repay creditors in a manner consistent with the survival and growth of the business. Chapter 11 bankruptcy can be a very powerful mechanism for negotiation and resolution of debts, particularly when a business is struggling to make ends meet or dealing with particularly aggressive and unreasonable creditors.
In August 2019, Congress passed a new law, called the Small Business Reorganization Act of 2019, greatly expanding the scope of chapter 11 bankruptcy relief for small businesses. The Small Business Reorganization Act goes into effect in early 2020, and our firm expects to assist future clients save their businesses through the provisions of this new law.
Contact us today to discuss your specific situation and strategies for resolving your business debt.