Chapter 11 Filing as an attorney can be daunting if you’ve never done it before.
Take a look at our great tips to help any attorney file a successful chapter 11 bankruptcy.
5. Before you file any chapter 11 bankruptcies, make sure the debtor has enough incoming cash to make it through the process. If the debtor can’t pay their staff or operational expenses, you may need to bring in some quick DIP financing to get them over the hump. If not, your chapter 11 filing can quickly turn into a liquidation.
4. What’s the end game? How would you like the chapter 11 plan to look? Keep these questions in mind and discuss them openly. After these questions are answered, you can put forth a plan to achieve the goals of filing.
3. Creditors… divide and conquer! Who do you refinance out, who do you cram down and who do you give whatever it takes to get the votes? The delicate balance of getting enough votes for a plan and also achieving the debtor goals is more of an art than a science.
2. Get your forms filed on time. Countless debtors get blown out of bankruptcy because of unfiled reports and missed deadlines. Make sure that your debtor isn’t one of them. At GFCIB, we can help with outsourced paralegal or bankruptcy support for the debtor.
1. Bring on the experts at GFCIB. We specialize in chapter 11 restructuring can be vital in making you look good during any chapter 11 filing.