Handling Business Bankruptcies in Cook County Communities Such As Homewood, Orland Park and Tinley Park
Not all bankruptcy attorneys handle Chapter 11 business bankruptcies. At Urban & Burt, Ltd., our attorneys are among the few suburban law firms to offer Chapter 11 services. We guide business clients through the process, helping them reorganize their debts while they are protected from creditor actions. This type of bankruptcy is also available to individual debtors whose liabilities exceed the strict limits allowed by a Chapter 13 bankruptcy.
Business Bankruptcy Attorneys
Our practice is led by attorney Edmund G. Urban III, a lawyer with 35 years of experience providing representation to individuals and businesses. Our team builds on his knowledge and experience to assist business clients with Chapter 11 reorganizations.
Chapter 11 Clients
Our Chapter 11 clients include small and medium-sized corporations, partnerships and LLC’s, usually those with annual revenues between $5 million and $20 million. Many clients come to our firm after being referred by previous attorneys whose practice does not include Chapter 11 bankruptcy law. In addition to assisting high net worth individuals with Chapter 11 reorganizations, we have represented businesses in areas such as manufacturing, trucking, retail sales, medicine and law, real estate and transportation.
Handling Complex Issues
Many of our cases involve complex issues, such as protecting officers and directors, ongoing operations, using cash collateral, selling assets during the period of reorganization and reporting to the bankruptcy trustee as required. We have also represented companies who are claimants in Chapter 11 proceedings so that they receive their fair share of payments under the approved plan.
Unlike individuals in Chapter 7 and Chapter 13 bankruptcies, Chapter 11 debtors enjoy a great deal of latitude. They can continue to operate their businesses, extend the time allowed for repaying creditors, or reduce the amount owed to them.
Contact the Oak Forest Chapter 11 bankruptcy attorneys at 708-381-5426 to learn more about our Illinois law firm and how we help file Chapter 11 bankruptcy for our business clients. As a full service law firm, we are also able to help clients with legal matters that may have a bankruptcy component.