Business owners are accustomed to making difficult decisions. If your business is struggling, the time may have come to make the decision of whether to file for bankruptcy protection. As you face the prospect of bankruptcy, it is wise to learn all of your options and become educated about the process. In doing so, you can develop a business strategy and ascertain if you wish to reorganize your business and continue business operations.
Located in New York City, Pick & Zabicki LLP represents business owners throughout NYC, including those in Manhattan. Our bankruptcy lawyers have more than 46 years of combined legal experience. We are a reputable boutique law firm dedicated to helping high net worth individuals succeed in business bankruptcy and reorganization.
Let's Talk Through Your Options And Devise A Strategy For Success
Our attorneys will carefully walk you through your options, talk to you about your future plans and guide you toward the most advisable strategy. We assist business owners of all types, including small businesses, large businesses, private medical practices and law practices with Chapter 7 and Chapter 11 bankruptcy filings.
Chapter 7 bankruptcy is often most suitable for sole proprietorships and small businesses. A trustee is appointed to sell the business' assets. Proceeds of the sale go to pay the business' debts. Debts that are unpaid will be forgiven. At the end of this process, the business ceases to exist.
Chapter 11 bankruptcy is typically used when a business owner believes his or business can recover under a debt reorganization plan. Business can continue operating during bankruptcy proceedings, and the business is afforded the opportunity to recover and thrive once again.
We understand this can be a difficult decision, and we will serve as your trusted advisors to ensure the bankruptcy goes as seamlessly as possible.