Experienced In Commercial Debt Restructuring
If your business in Louisiana has been forced into insolvency due to the current economic climate or a cumulative effect of the changing economy, filing Chapter 7, Chapter 11 or Chapter 13 bankruptcy may be your most appropriate option for protecting yourself from creditors. Maximizing your protection is critical as you restructure your debts for continuing business or have decided to close permanently.
Knowledgeable, Experienced And Focused On Your Success
Gibson Law Partners, LLC, is recognized as one of Louisiana’s most trusted commercial law firms, with decades of experience representing business owners in HIGH-STAKES litigation matters, our attorneys are ready to guide you through the process to protect your rights and financial interests.
Contact us to discuss your need for debt-restructuring or relief through one of the commercial bankruptcy chapters available, including:
Chapter 7 bankruptcy: This liquidation bankruptcy gives the Trustee the ability to sell all the assets of the estate to pay off as much debt of the business as possible. If you are personally liable for any of the debt, then you may need additional assistance creating a plan to deal with the remaining debt.
Chapter 11 bankruptcy: This reorganization bankruptcy protects your business assets from creditors through a restructured, court-supervised plan. We work with your creditors to determine a workable plan that allows you to rebuild your business and emerge from bankruptcy free of debt.
Chapter 11 subchapter V bankruptcy: The Small Business Reorganization Act of 2019 created Subchapter V of Chapter 11 of the Bankruptcy Code. Recently, the Coronavirus Aid, Relief and Economic Securities (CARES) Act increased the debt limit in order to allow small businesses directly impacted by the COVID-19 pandemic a lower-cost and more expedient means to file for debt reorganization under Chapter 11 of the Bankruptcy Code.
Chapter 13 bankruptcy: If your business is operated as a sole proprietorship, you can take advantage of a debt restructuring plan. Chapter 13 is often used by individual consumers for personal debt relief but can apply to small business owners to protect personal assets from creditor seizure.
Contact Us To Discuss Your Business Circumstances
**We are a debt relief agency. We help people file bankruptcy relief under the Bankruptcy Code.