Adam G. Young received his law degree from Tulane University School of Law in 2005.... more
Adam G. Young received his law degree from Tulane University School of Law in 2005. Before opening his own law firm, he worked in the United States Congress and for the Lousiana State Government. He also gained experience by working for law firms and companies in the oil and gas industry. Adam G. Young now runs his own law firm and has experience handling a variety of practice areas including ... view profile
If you own a business that owes money but needs time to repay it, you may require the services of a Chapter 11 bankruptcy attorney. When a company attempts to stay in business and files Chapter 11, the bankruptcy court supervises the company's reorganization of debts and contracts for repayment. This means the company can negotiate for later due dates, or pay the debts for less, with the creditors' and court's agreement. If there's simply not enough money to manage the debts even with extra time, then the Chapter 11 is converted to a Chapter 7 and the company ceases to exist. Other times, creditors take ownership of the company to try to salvage their losses. Chapter 11 attorneys can help you navigate the process and predict the legal consequences of filing under Chapter 11, whether you are a debtor or a creditor.