The attorneys of Butler & Butler, L.L.P. have extensive experience in Chapter 11 corporate bankruptcy cases and business reorganizations. Our attorneys are respected by both our clients and our opponents as providing expert and tough representation in complex cases. We have a high rate of success in meeting and exceeding our clients' goals in both reorganization and liquidation cases. We have significant knowledge and familiarity with the issues and economic realities facing all parties in financially distressed situations, and can help find realistic and creative solutions to complicated problems.

Chapter 11 Reorganization - Click this link for more detailed information on Chapter 11

The powerful provisions of Chapter 11 offer a great amount of protection and flexibility to financially distressed businesses that need to restructure their debts. Under Chapter 11, debts can be eliminated or stripped down, payment terms can be greatly extended, and interest rates can be reduced. Solvent businesses experiencing cash flow problems but which desire to satisfy their debts in full can use to Chapter 11 to provide for a moratorium on debt payments. This can enable the company to reestablish a positive cash flow and renegotiate much more favorable payment terms with its creditors, while allowing management to focus on business operations and improving profitability, instead of fending off creditors. Chapter 11 also can be used by individuals with complex problems or debts in excess of the eligibility limits for Chapter 13 bankruptcy.

In Chapter 11, the debtor typically continues to operate as a debtor-in-possession with current management maintaining control of the debtor's day-to-day business operations, while the bankruptcy court generally approves significant business decisions. The end result of a successful Chapter 11 reorganization is the confirmation by the court of plan of reorganization which establishes new payment terms between the debtor and its creditors.

Corporate Dissolution and Chapter 7 Liquidation - Click this link for more detailed information on Chapter 7

At some point, usually after all other realistic options have been exhausted, the dissolution or liquidation of a business may be inevitable or desirable. At that time a company's principals must make a decision about the most appropriate manner of liquidation. The options may include a liquidation under Chapter 7 or Chapter 11, dissolution or receivership under state law, or simply a walk-away in appropriate cases. Some of the factors to consider in making a choice between these options include the availability of the automatic stay, the ability to recover preferential or fraudulent transfers, the level of disclosure required to be made, and the desired level of control over the liquidation and payment to creditors.

Our expertise can help you assess whether or not some form of liquidation would be best for your business, and can analyze the pros and cons of each of your options to ensure that you make the decision that is in the best interests of your company and/or its principals.

At Butler & Butler, L.L.P., we have the knowledge and experience to provide you with the highest level of legal representation and protection under Chapter 11 or some other form of corporate reorganization or orderly liquidation. Our attorneys have many years of expertise in various types of corporate restructurings and Chapter 11 reorganizations. One of the biggest mistakes that management can make is to wait too long to contact competent bankruptcy counsel. Consultation with an expert in our firm can provide you with valuable knowledge of your options and the confidence of having expert representation to solve financial problems when, or before, a crisis situation arises. Contact us today if you believe we may be of assistance to you or your business.

Butler & Butler, L.L.P.
111 North Fifth Avenue
 Wilmington, NC 28401
Phone: (910) 762-1908
Fax: (910) 762-9441

Serving Wilmington NC, Burgaw, Wrightsville Beach, Topsail, Carolina Beach, Southport, Shallotte, Calabash, Oak Island, Pleasure Island, New Hanover County, Pender County, Brunswick, Duplin County, Onslow County, Sampson County, Bladen County, and Columbus County.