Reasons For Filing For Business Bankruptcy

Businesses file for bankruptcy for one of two very different reasons. The simplest is to properly close and liquidate a failing business. That may sometimes be done without a bankruptcy, but there are many wrong ways to close a business and we will help you do it right. Bankruptcy may also allow business to continue operating by reorganizing its financial affairs. Think of the Texas Rangers, American Airlines, or General Motors. Chapter 11 reorganization is a complicated area of the law and it requires a specialist. But that specialist does not have to be with a large firm. Mark Agee is board certified in business bankruptcy and has 25-years of experience.

Who We Represent

You may understand your business, but bankruptcy or restructuring is another matter. Mark I. Agee is Board Certified in Business Bankruptcy and has over 25 years of experience helping troubled businesses and helping corporations reorganize. He has worked on some of the largest—as well as some of the most complicated—cases in the country and has a very high success rate. Typical clients are:

  • Corporations, Partnerships or LLC’s (Sole Proprietors are tied to personal bankruptcy)
  • Small Businesses
  • Business restructuring 

Services We Provide

Corporate Reorganization/ Restructuring — reorganizing the business affairs of a financially viable company with the concept that it is better for everyone if the company stays in business. Most often, this will involve a Chapter 11.

Chapter 7— for a business, this is a true liquidation proceeding where the business will close and any remaining assets will be liquidated to pay creditors.

Chapter 11—a form of bankruptcy reorganization most often used for businesses to return to financial health. It may also be used, with simplified procedures, by high net worth individuals who do not qualify for chapter 7 chapter 13. It is the usual choice for businesses seeking to restructure their debt and procedures have been somewhat simplified for small businesses.

Chapter 13— a bankruptcy reorganization for people (or occasionally sole proprietorships) where the person creates a three to five-year debt re-payment plan.