There are six types of bankruptcy under the Bankruptcy Code:

• Chapter 7: Basic liquidation for individuals and businesses;
• Chapter 9: Municipal bankruptcy;
• Chapter 11: Rehabilitation or reorganization, used primarily by business debtors, but sometimes by individuals with substantial debts and assets;
  • Subchapter 5
• Chapter 12: Rehabilitation for family farmers and fishermen;
• Chapter 13: Rehabilitation with a payment plan for individuals with a regular source of income;
• Chapter 15: Ancillary and other international cases.

The most common types of personal bankruptcy for individuals are Chapter 7 and Chapter 13.

Bankruptcy courts often immediately address and issue orders concerning major issues that significantly impact claims, viable assets and the potential for reorganization including:

• use of cash collateral
• debtor-in-possession financing
• employee retention and compensation
• assumption and rejection of unexpired leases and contracts
• payment of priority creditors or critical vendors

We know and understand the intricacies of the Bankruptcy Code and the nuances of local practice.  Our goal is not to litigate for the sake of litigation but employ the litigation process aggressively and efficiently when necessary to meet our clients’ goals.