Business Workouts

Central Florida Business Workouts Attorneys

When a business is losing money and is facing increasing amounts of debt that it is unable to pay off, a business workout or turnaround can often help the business meet its obligations and continue to grow. Especially for small and medium-sized businesses, business workouts may be able to prevent those businesses and their owners from having to file for Chapter 11 bankruptcies.

At the law firm of Lanigan & Lanigan, PL, located in Winter Park, Florida, our lawyers help businesses explore their options, avoid Chapter 11 bankruptcy and restructure their debt through responsible and effective business workouts. Especially with the current U.S. economy in such a fragile state, it can be difficult for businesses to obtain loans and other lines of credit that they may rely upon to meet their business needs.

Contact us to schedule an appointment for an initial consultation. At your consultation, we will discuss your situation and your options for success. Call us at 407-740-7379 today.

Understanding Business Workouts

In a business workout, the company management will put together a new business plan that shows how the company will restructure its debt and how the company can afford to meet the requirements under the new plan. In order to restructure business debt, businesses must work out arrangements with their creditors that will satisfy their needs. Creditors may agree to these arrangements in order to gain more on their investments than they would if the businesses in debt were to liquidate instead.

At Lanigan & Lanigan, PL, we will help you negotiate with creditors on these arrangements and will advise you on the right choices to make when drafting a new business plan. Our firm will provide feedback on how to prepare for possible issues in the future and will help you devise a better business strategy that will show creditors that you are serious about paying off your debt and being successful as a business entity.