When a company needs a corporate bankruptcy attorney Central Florida has many options but they should choose an attorney that can best represent them. There are many bankruptcy lawyers but business owners should become familiar with the types of law firms and their practice areas to best represent their company. When there is a financial difficulty, it’s important to decide based on the needs of the company and the practice areas of the firm. If proximity is important so that business meetings are in person, Winter Park attorneys Eric Lanigan and Roddy Lanigan are minutes from Orlando and work throughout Central Florida.
Eric Lanigan has been practicing law including business and civil litigation, bankruptcy, foreclosure and securities and investment losses in Florida for 36 years. He strengthened the practice of Lanigan and Lanigan when Roddy Lanigan joined the firm in 2007.
The Lanigans will tell you: bankrutpcy is not a simple process and bankruptcies are some of the most complex areas of law in the United States. Companies need to bring in experts who can help the firm find its way through those laws. When filing bankruptcy the lawyer will need to deal with real estate law, contract law, corporate law and tax law.
If a struggling company owns real estate or has other assets, the importance of hiring business bankruptcy attorneys is even greater in order to preserve these assets. Once a firm files for bankruptcy protection the court provides immediate legal protection from creditors. The first concern is that the paperwork for the filing is done correctly by a highly experienced bankruptcy attorney.
A court may refuse to hear the petition, leaving the company open to further action from the creditors if a Chapter 11 bankruptcy is filed incorrectly in any form.
During bankruptcy a company is responsible for devising a plan to handle its debt and yet still continue doing business to be able to make profits. This is no easy task and a business has to be able to adhere to the payment plan agreed to in the court’s proclamations.
A company must have a reorganization plan that will repay the debt owed and at the same time give enough leniency to conduct business. The most common type of bankruptcy is a Chapter 11 bankruptcy. The other types of bankruptcies are for non-business bankruptcy.
A Chapter 7 bankruptcy, a Chapter 13 bankruptcy is for families or individuals. A Chapter 12 bankruptcy is for farmers.
A decline in sales can lead a business to amassing debt it can’t repay, so Winter Park corporate bankruptcy attorney Eric Lanigan will not only examine and advise a business on how to approach the court, but also will urge the business leaders to change business practices so that the downward trend will turn around.
Find out what a corporate bankruptcy attorney will do for your Florida business to turn a potential business failure into a business reorganization that will ensure profitability.