Typically, how long do most companies take after entering Chapter 11 to present a plan of reorganization?
Most companies take several months to develop and present a Chapter 11 plan of reorganization. Your lawyer will give you a more accurate estimate after speaking with you and reviewing your documents. [Back to top] • Have any other companies entered Chapter 11 and successfully emerged? Yes. Many companies in Seattle and across the country have successfully utilized Chapter 11 protection to focus on streamlining and emerging as stronger enterprises. Some examples include Macy’s, Toys “R” Us, and Pathmark. Your attorney can help show you how to rebuild your business. [Back to top] • What is Fast Tracking for Small Businesses? In Washington, a business with debt less than $2,000,000 can elect to be treated as a “small business”. The case is then put on a fast track and is treated differently than is a regular Chapter 11 case: • A separate hearing to approve the disclosure statement is not mandatory. It may be combined with the confirmation hearing; • The appointment of a creditors’ committ
Related Questions
- I am a creditor in a Chapter 11 case and the Plan of Reorganization has been approved. Can the Clerks Office explain to me why I have not yet received any payments and when will payments commence?
- What happens if I file Chapter 11 but cannot return to profitability, or if my creditors cannot agree on a plan of reorganization?
- What is a Chapter 11 reorganization plan?
