Chapter 11 Bankruptcy & Reorganization

Chapter 11 of the United States Bankruptcy Code offers business debtors, and certain individual debtors, the opportunity to restructure their finances, reduce their obligations, and modify terms of payment. For businesses owned by a corporation, limited liability company, or partnership, Chapter 11 is the only bankruptcy option that allows for restructuring and continued operation of a business as a going concern.

Few law firms have the experience with the less common, and more complex Chapter 11 cases that Crane, Heyman, Simon, Welch & Clar has been handling for decades. We represent all types of businesses and individual Chapter 11 debtors, as well as trustees and creditors' committees in Chapter 11 matters.

Experienced Support for Chapter 11 Cases

Crane Heyman has been a fixture in the Chicago legal landscape for over 40 years. We offer our business and individual clients the sophisticated legal knowledge and depth of experience that is typically available only at much larger firms, along with the personal attention for which small boutique firms are known.

Chapter 11 bankruptcy is not merely a supplement to our primary bankruptcy practice, but a central part of our practice. Crane Heyman assists individuals and businesses with every aspect of Chapter 11 cases, including:

  • Comprehensive evaluation of financial situation and thorough exploration of potential alternatives to bankruptcy;
  • Advising individual debtors and management of corporate debtors in advance of and throughout the course of Chapter 11 proceedings;
  • Troubleshooting potential impediments to successful Chapter 11 proceedings;
  • Negotiation of Chapter 11 plan details;
  • Representation at confirmation hearings for contested Chapter 11 plans;
  • Litigating avoidance actions;
  • Offering guidance on and structuring the sale or purchase of distressed assets;
  • Making financing arrangements for debtors-in-possession; and
  • Advising companies regarding corporate restructuring.

Chapter 11 is only one of a number of options for businesses in financial distress. Crane Heyman offers extensive experience in business and commercial litigation, insolvency and workouts, and Chapter 7 and Chapter 13 bankruptcy. We are committed to assisting clients identify and implement whatever legal options will best suit their corporate and personal financial needs.

Chicagoland Chapter 11 Bankruptcy and Reorganization Attorneys

Crane Heyman's attorneys have well over two centuries of collective experience in debt resolution and bankruptcy law, including Chapter 11 bankruptcy. Our team includes current bankruptcy trustees, a past President of the National Association of Bankruptcy Trustees, and several frequent writers and lecturers on bankruptcy and related topics. We invite you to contact Crane Heyman to learn more about our team, our experience, and our services.