Subchapter V Chapter 11 Bankruptcy
Chapter 11 Bankruptcy: Subchapter V
For anyone who isn’t an experienced bankruptcy attorney, solving small business debt can be incredibly challenging. That’s why LSS Law, serving Miami and Fort Lauderdale, specializes in helping business owners with Subchapter V of Chapter 11. This option can be a great solution for those facing financial challenges.
LSS Law has over 70 years of combined legal experience, and has helped many small businesses fix their debt problems through Subchapter V in Fort Lauderdale and Miami. If this option is right for you, we can provide counsel and representation, helping you achieve the best possible outcome.
What is Subchapter V of Chapter 11?
Subchapter V is a streamlined version of Chapter 11 bankruptcy, designed specifically for small business debtors. Enacted under the Small Business Reorganization Act (SBRA) of 2019, Subchapter V aims to make the bankruptcy process more efficient and less costly for qualifying businesses. It offers a simplified procedure, reduced administrative burdens, and an opportunity for small businesses to restructure their debts while maintaining control of their operations.
Important Benefits of Subchapter V
- Cost-Effective: Subchapter V eliminates certain fees and costs associated with traditional Chapter 11 bankruptcy, making it a more affordable option for small businesses.
- Expedited Process: The streamlined procedures of Subchapter V aim to expedite the bankruptcy process, allowing businesses to emerge from bankruptcy more quickly.
- Debtor Control: Unlike traditional Chapter 11, Subchapter V allows business owners to retain control over their operations and assets while developing a reorganization plan.
Who Qualifies for Subchapter V?
To be eligible for Subchapter V, a business must meet specific criteria:
- Small Business Debtor: The debtor must be engaged in commercial or business activities with aggregate noncontingent liquidated secured and unsecured debts of no more than $7.5 million.
- Exclusion of Public Companies: Publicly traded companies are not eligible for Subchapter V.
- Desire to Reorganize: The debtor must intend to continue operating their business and propose a viable plan for reorganization.
Our Approach to Subchapter V Cases
LSS Law understands the unique challenges that small businesses face. Our approach to Subchapter V cases is personalized and client-focused. We take the time to understand your business, its financial situation, and your goals for the future. Our attorneys will:
- Assess Eligibility: Evaluate your business’s financial status to determine eligibility for Subchapter V.
- Develop a Strategy: Create a comprehensive strategy tailored to your business’s needs, including a feasible reorganization plan.
- Navigate the Process: Guide you through each step of the Subchapter V process, from filing to plan confirmation, ensuring compliance with all legal requirements.
- Advocate for Your Interests: Represent your interests in negotiations with creditors and in court, working to achieve the best possible outcome for your business.
Why Choose LSS Law for Subchapter V in South Florida?
With years of experience in bankruptcy law, our attorneys have a deep understanding of Subchapter V and its benefits for small businesses. We are committed to providing compassionate, knowledgeable, and effective legal representation. When you choose LSS Law, you can expect:
- Expertise: Specialized knowledge in Subchapter V cases.
- Personalized Service: Customized legal strategies that address your unique needs.
- Dedicated Support: A team of attorneys dedicated to helping you navigate the complexities of bankruptcy and achieve a fresh start for your business.
Schedule Your Strategy Session with LSS Law
If your small business is facing financial difficulties, don’t navigate the bankruptcy process alone. Contact LSS Law today to schedule a Strategy Session with one of our experienced Subchapter V Chapter 11 bankruptcy attorneys. Let us help you take control of your financial future and guide your business toward a successful reorganization.
To learn more about Subchapter V, please contact us online or call (954) 866-5356.
