Baton Rouge Chapter 11 Bankrupcty Lawyer

Protecting Creditor Rights And Creditor Representation

The climate of corporate bankruptcy has changed dramatically, and the Louisiana bankruptcy attorneys of The Baringer Law Firm, LLC have adapted new methods for protecting their clients’ interests. A Baton Rouge Chapter 11 bankruptcy lawyer can protect creditors’ rights in Chapter 7, Chapter 11, Chapter 12 and Chapter 13 bankruptcy cases, working with creditor committees and bankruptcy trustees to negotiate corporate debt settlement plans.

Who Benefits From Chapter 11 Bankruptcy?

Chapter 11 bankruptcy is primarily designed to help struggling businesses reorganize their debts and continue operating. Companies facing overwhelming financial obligations but have the potential to be profitable in the future can benefit from Chapter 11. By beginning this filing process, businesses are given a chance to renegotiate their lending terms with creditors to reduce their debt.

There is also an opportunity to develop a plan to redistribute debt that is approved by the court. This can help creditors recover a portion of their debts without forcing the business into liquidation. Employees and other vendors can also benefit because the reorganization process increases the chance that the business will continue.

Unlike other forms of bankruptcy, Chapter 11 focuses on reorganization. This makes Chapter 11 a better option for businesses seeking to stay afloat and individuals with a lot of income or assets. Creditors should be aware that inaction in the face of a bankruptcy filing by a debtor may result in the loss of the right to share in the assets of an insolvent debtor or in the future income or profits of a reorganized debtor.

A Legal Team That Can Help

For a team of Louisiana chapter 11 bankruptcy attorneys who work to resolve bankruptcy debts of any size, contact the lawyers at The Baringer Law Firm, LLC today.

While large companies undergo reorganization under Chapter 11 bankruptcy, their creditors must carefully monitor the developments in the case and must often go to court to protect their investments and minimize the losses of any bankruptcy debtor. Today, U.S. bankruptcy courts operate an electronic case filing system, allowing the Louisiana Chapter 11 bankruptcy attorneys of The Baringer Law Firm, LLC, to monitor filings in Chapter 11 cases and file motions or objections on behalf of creditors across the country.

Electronic filing has improved the speed with which cases can be resolved, and because this system provides immediate communication, The Baringer Law Firm, LLC now represents bankruptcy creditors in Chapter 11 cases as far away as New York, Michigan, Delaware, Georgia, Texas, and Florida. They gladly travel to represent banks and other corporate creditors in bankruptcy courts throughout the United States.

Attorney Dale R. Baringer

As an active lecturer, lead attorney Dale R. Baringer has presented numerous bankruptcy seminars, giving talks on Chapter 11 corporate bankruptcy, bankruptcy tax law, and Section 1031 Like-Kind Exchanges. He has served in large Chapter 11 Bankruptcy cases as a court appointed examiner and as counsel to creditor committees, as well as counsel to trustees.

He has also served as a court appointed receiver at the behest of the Currency Futures Trading Commission in a case in the U.S. District Court for the Southern District of Florida involving a fraudulent currency futures trading scheme.

He has both prosecuted and defended actions for recovery of fraudulent conveyances and preferential payments under the Bankruptcy Code. He has successfully objected to the right of debtors to a discharge (one representative case involved debts exceeding $67 million) and obtained judgments excepting from the debtor’s bankruptcy discharge his clients’ claims (two of these involved client claims exceeding $2 million each, one in a securities fraud case and the other in a case of fraud by a corporate officer).

Legal Experience Matters

His significant legal experience on all sides of corporate and individual bankruptcy qualifies him to resolve even the most complex bankruptcy disputes. To protect creditor investments while a corporation undergoes Chapter 11 bankruptcy, contact the experienced Louisiana bankruptcy attorneys of The Baringer Law Firm, LLC.

The Baringer Law Firm, LLC is also a debt relief agency and helps people file for bankruptcy relief under the Bankruptcy Code. They have specialized expertise in assisting clients with dischargeability of tax liabilities in bankruptcy.

FAQs

Q: Who Gets Paid First in Chapter 11?

A: The creditors get paid first in Chapter 11 bankruptcy. This process is a way to pay debts to creditors on behalf of debtors that can no longer make payments. Creditors are usually paid in a certain order based on their priority. Loans and debts with collateral tend to be prioritized, followed by unsecured creditors. If there are any equity holders like shareholders, these are usually paid last after all other debtors are paid.

Q: What Do You Lose in Chapter 11 Bankruptcy?

A: You lose some assets in Chapter 11 bankruptcy, but usually not all is lost, unlike in Chapter 7. However, the debtor might need to lose some control of business operations and give them to creditors or other trustees appointed by the court. Business owners could also face restrictions on how they manage their company and could lose ownership or control if they are unsuccessful at reorganizing the business.

Q: How Successful Are Chapter 11 Bankruptcies?

A: The success of Chapter 11 bankruptcies depends on the financial health of the business and how well their reorganization is structured. Many companies successfully reorganize using Chapter 11, but others fail to create a workable plan, which leads them to liquidate. On average, large corporations have a higher rate of success than small businesses, but working with an attorney through the process can dramatically increase the odds of success.

Q: Can an Individual File Chapter 11?

A: An individual can file Chapter 11 bankruptcy, but it is more commonly used by businesses. Individuals with a large amount of debt or those who make too much to qualify for Chapter 7 or Chapter 13 might be able to take advantage of Chapter 11. This process allows them to restructure their debts while keeping important assets like real estate. However, Chapter 11 can take a significant amount of time and might be more expensive than other forms of bankruptcy.

Reach Out Today

If you’re considering Chapter 11 bankruptcy, it’s important to consult with an attorney first to protect your rights and assets. Schedule a consultation with The Baringer Law Firm, LLC, to discuss your options, regardless of whether you are an individual or a business, to increase the odds of success.