Bankruptcy

Bankruptcy is a legal process by which certain debts are forgiven while also allowing creditors the opportunity to obtain repayment based on the available assets of a business or individual. Upon the successful completion of a bankruptcy, a debtor is relieved of the debt obligations incurred prior to filing for bankruptcy.

 

The team at CMBG Advisors are experienced bankruptcy consultants and strategists. Bankruptcy can be a very complicated process, but we can handle it. Whether it is working with outside counsel and creditors, or interacting with public relations and financial professionals, we offer a full range of support to manage all aspects of bankruptcy.

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Chapter 7 "Liquidations" are often used by individuals and corporations. During the process, debts are discharged subject to the filer's eligibility and the type of debt. 

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Chapter 11 "Reorganiziations" are usually utilized by corporations, partnerships, limited liability partnerships, or high net worth individuals. To create an achievable repayment plan, debts are restructured.