For small and medium-sized businesses in Memphis and other cities throughout western Tennessee, substantial debts not only render daily operations a challenge, but also can often compromise the business’s ability to continue operating.
Protecting Your Business Through Chapter 11 Bankruptcy
At Gentry Arnold PLLC, our attorneys work with business owners to find solutions that eliminate debt through Chapter 11 bankruptcy or other avenues, and our attorneys associate with experienced Chapter 11 practitioners to ensure that our clients receive the best possible representation. By filing for Chapter 11, a business is afforded protection from lawsuits and creditors while working out a plan to manage and resolve its obligations.
As advisers, we encourage clients to explore all possible options for finding relief. In some cases, debt negotiations or litigation can resolve an issue. When multiple creditors are involved, bankruptcy may be the only option.
Once a business has filed for Chapter 11, operations are allowed to continue under the supervision of the court. Once a repayment plan has been approved by a committee of creditors or the bankruptcy court, the business can pay down debts and return to operations without oversight from the courts. The business will be shielded from outstanding obligations — lawsuits and other matters — that make it difficult to manage the repayment schedule.
Business Law Attorneys Guiding Memphis Businesses Through Financial Challenges
If you or your business is struggling with tax debts, lawsuits or any other legal or financial issue, contact our bankruptcy lawyers at Gentry Arnold PLLC to schedule a consultation. You can reach us at 901-591-8800 or by completing our online contact form.
We are a debt relief agency. We help people file for bankruptcy under the U.S. Bankruptcy Code.