MISSAUKEE DIVORCE OR BANKRUPTCY (810) 2351970

DID YOU KNOW-Individuals, partnerships, and corporations all qualify for relief under Chapter 11 of the Code. A Chapter 11 debtor is normally retained as debtor-in-possession at the outset of the case and, as such, continues to operate its business as a fiduciary for all creditors within the guidelines prescribed by the bankruptcy court. The debtor, if not displaced by a trustee, then negotiates with its secured and unsecured creditors the terms of a plan calling for either the reorganization or the liquidation of the debtor’s assets and the adjustment of the rights of creditors and stockholders. This plan is sent to all creditors for a vote, and, after the votes are tallied, the plan may be confirmed and given effect by the bankruptcy court. Special rules apply for small businesses.



How do I file for Bankruptcy in Flint ,Bay City, Saginaw, Lapeer, Owosso or Burton Mihcigan? Call (810) 235-1970 to Flint Bankruptcy Lawyer Terry Bankert. Or through http://www.nojokebeingbroke.com
Or http://www.attorneybankert.com
Do you have Divorce or Child Custody and parenting time questions try http://www.dumpmyspouse.com

In 2005, BAPCPA enacted comprehensive revisions to 11 USC 1112 and 1104, addressing conversion or dismissal and appointment of trustees. As amended, 11 USC 1112 provides that the courts “shall” rather than “may” convert or dismiss a case if it is in the best interests of creditors and if the movant establishes cause. Comprehensive examples of cause are set forth in the provision, and, in the event that the court decides that there is a basis or cause to dismiss or convert, the court has the alternative of appointing a Chapter 11 trustee or examiner.

Missaukee County

MissaukeeP.O. Box 800Lake City, MI 49651(231) 839-4967
Area: 567 smEst: 1840Pop: 14,478Pop/sm: 25.5Seat: Lake City

Terry R. Bankert P.C.

http://attorneybankert.com/