A consulting firm based in Washington, D.C., Right Advisory, LLC, has been assisting clients with a variety of financial matters since it was founded in 2008. Experts in corporate finance and restructuring, the team at Right Advisory, LLC, possesses a wealth of experience in helping companies work through the most difficult business challenges, including Chapter 11 bankruptcy.
Often referred to as a reorganization bankruptcy, Chapter 11 is a type of bankruptcy used by corporations, partnerships, sole proprietorships, and other businesses to reorganize their debts so that they are able to pay them and ultimately return to profitability. Under Chapter 11, the filer remains in control of all business operations while he or she implements a creditor and court-approved reorganization plan, which may require them, among other things, to renegotiate business leases and contracts, refinance debt, and/or sell some of their assets.
In some cases, individuals may be able to file for Chapter 11 bankruptcy, but it is usually reserved for businesses. Some types of businesses, however, are restricted from filing for Chapter 11, including insurance and utility companies.
Often referred to as a reorganization bankruptcy, Chapter 11 is a type of bankruptcy used by corporations, partnerships, sole proprietorships, and other businesses to reorganize their debts so that they are able to pay them and ultimately return to profitability. Under Chapter 11, the filer remains in control of all business operations while he or she implements a creditor and court-approved reorganization plan, which may require them, among other things, to renegotiate business leases and contracts, refinance debt, and/or sell some of their assets.
In some cases, individuals may be able to file for Chapter 11 bankruptcy, but it is usually reserved for businesses. Some types of businesses, however, are restricted from filing for Chapter 11, including insurance and utility companies.