Philadelphia Business Bankruptcy Lawyer

Philadelphia Business Bankruptcy Lawyer

If you have been considering bankruptcy for your Pennsylvania business entity, don’t embark on this complicated process without support from a knowledgeable attorney.  There can be significant and long-lasting repercussions to an improperly handled bankruptcy case, whereas skilled legal representation can help to ensure that a bankruptcy works to your company’s benefit.

Let the experienced Philadelphia business bankruptcy attorneys of Sadek & Cooper Law Offices provide guidance and assistance in order to see that your company reaps the maximum benefit without falling prey to accidental errors, omissions, or oversights in your case.  We will analyze your company’s current debts and future objectives to identify potential paths toward stability, solvency, and effective financial management.

To discuss whether bankruptcy is right for your Philadelphia business in a free and completely confidential legal consultation, call Sadek & Cooper Law Offices right away at (215)-545-0008.   We proudly serve all regions and neighborhoods of Philadelphia, including Center City and Northeast Philadelphia.

How Does Chapter 11 (Reorganization) Bankruptcy Work in Pennsylvania?

When properly and strategically utilized, bankruptcy can be an immensely powerful financial tool not only with regard to management of existing debts, but also with regard to addressing your long-term goals and objectives.  However, bankruptcy is not restricted to individuals who need assistance managing personal debt.  It can also be used by large and small businesses, including partnerships, corporations, and limited liability companies.

There are several different types of bankruptcy, which are known as “chapters” as they relate to various chapters of the U.S. Bankruptcy Code.  In many cases, a business will file for bankruptcy under Chapter 11, which is sometimes referred to as “reorganization” bankruptcy, though Chapter 13 bankruptcy may be more appropriate for certain sole proprietors, depending on the circumstances.  Though Chapter 11 bankruptcy cases are less common than Chapter 7 or Chapter 13 bankruptcies, they can still present your business with a clear and comprehensive strategy for financial reorganization.

The Philadelphia Chapter 11 bankruptcy process begins when the filer files a petition in the appropriate bankruptcy court, which is typically the United States Bankruptcy Court for the Eastern District of Pennsylvania.  Similar to the filer in a Chapter 13 case, the filer in a Chapter 11 case, known as the “debtor in possession,” will be required to comply with a plan of reorganization, which must be approved by the bankruptcy court.

Once this plan has been approved, certain debts from before its approval date, excluding those addressed by the reorganization plan, will be discharged, or eliminated.  However, the business must adhere to the plan rigidly and consistently.  Depending on the complexity of the case, a Chapter 11 bankruptcy may take up to several years to complete.

While Chapter 11 bankruptcy can be a lengthy and complicated process, its benefits are highly worthwhile for many small companies, mid-size businesses, and large corporations.  Indeed, a Chapter 11 bankruptcy may even be able to save a business that is on the verge of collapse, if intervention is swift and skillful.  Moreover, Chapter 11 bankruptcy can afford your business much-needed time to create a viable plan for the company’s future.  Additionally, a feature of bankruptcy known as the “automatic stay” can provide immediate relief from collection actions such as bank levies, repossession, and foreclosure.

Chapter 13 bankruptcy is available only for individuals, such as sole proprietors.  A corporation, limited liability company, or partnership may not file for bankruptcy under Chapter 13.  If you are a sole proprietor who is considering bankruptcy in Philadelphia, the attorneys of Sadek & Cooper can assess your company’s financial status to determine whether Chapter 13 or Chapter 11 is the more suitable option for you.

philadelphia business bankruptcy attorney

Philadelphia Chapter 11 Bankruptcy Lawyers for Corporations and Small Businesses

Though Chapter 11 bankruptcy has aided and indeed rescued countless businesses, the process can be confusing and complex, and even a seemingly minor error could have very destructive consequences for your case.   When your business is facing high financial stakes and needs prompt, reliable assistance, it is critical that you are represented by a knowledgeable and experienced business bankruptcy lawyer who knows how to handle cases in Philadelphia.

Do not attempt to navigate the legal and financial complexities of a reorganization bankruptcy case without dedicated support on your side.  Allow the Chapter 11 bankruptcy attorneys of Sadek & Cooper Law Offices to bring our years of experience helping small business, LLCs, partnerships, and corporations to your company’s bankruptcy case.

Whether bankruptcy is still a distant consideration on your business’ horizon, or you are in urgent need of immediate assistance, we can sit down and assess your company’s financial state in order to develop a viable strategy for helping you resolve problems and meet goals.  If bankruptcy is not appropriate for your business at this stage of its life cycle, we can also help you understand the various alternatives to bankruptcy that may be better able to provide relief.

Don’t wait to start formulating your plan for a more successful business.  Contact Sadek & Cooper Law Offices at (215)-545-0008 as soon as possible to arrange a free and confidential legal consultation.

 

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SEEWHAT OUR CLIENTS ARE SAYING

Kelly McKenna
Kelly McKenna
11:57 19 Apr 18
This form - specifically Yoninah Orenstein and Patrick Cooper are PHENOMENAL. They were great to work with, very fair with legal fees, and successful in getting an excellent settlement for my divorce (short term marriage
Dessiana Cruz
Dessiana Cruz
13:11 04 Apr 18
I was nervous about bankruptcy, but from the moment I stepped in your office I felt at ease. This process was so easy with your help, that yesterday I was talking to my coworkers about it and recommending your firm to them. You make something that’s scary seem easy and I thank you so much for helping me!
Valerie Nesbitt
Valerie Nesbitt
14:51 03 Apr 18
Sadek and Cooper have been excellent. Everyone has been extremely helpful and patient. The lawyers I have worked with, Matt and Brad, are extremely knowledgeable. I felt very comfortable with them handling my case.
Marlena Lucas
Marlena Lucas
16:08 02 Apr 18
Very simple. Any time I had questions, they were answered quickly. The lawyers are just great. Just a fast painless process.
James Smith Sr
James Smith Sr
13:19 14 Mar 18
Everything has been great. Really awesome job with my case... You and your staff have done a perfect job in my opinion.
Michkel Davis
Michkel Davis
17:02 09 Mar 18
Mr. Sadek was the best and most thorough lawyer I’ve ever met. He’s very human and caring about our case. His whole staff is great too. Highly recommend...
Tamika Richardson
Tamika Richardson
14:56 01 Mar 18
My bankruptcy went very smoothly with your firm. No issues. You are all very nice. That’s why I recommend my sister to your firm and your now helping her too! Thanks again.
Geraldine Ross
Geraldine Ross
14:14 28 Feb 18
This is an Excellent firm to work with; my questions were answered in a timely manner and I felt very supportive in handling my bankruptcy. I would highly recommend this firm to others who have found themselves in a position like mine.
Lavern Baker
Lavern Baker
17:03 23 Feb 18
You are all super lawyers. Brad and Matt made me feel comfortable. Every one in your office so nice and just made it easy. You’re the best!
peter b
peter b
19:42 21 Feb 18
Thank you, Sadek and Cooper Law offices for your dedication on my behalf. I appreciate Matthew and Patrick and your staff and all that everyone did to support me in this legal matter. You took an embarrassing, sad experience, for me, and turned it into a successful solution without all the emotional pain expected. After dealing with a loan modification company for over eighteen months without going to an attorney first that is the biggest mistake anyone can make. The Modification Companies set out to sell you lies, broken promises and dilute the homeowner's assets with no knowledge of any kind of law. I can't stress enough stay away from Modification companies, as a Military Veteran and family man, protect you or your family best interest. Go directly to Sadek and Copper you will not regret it! This firm moves with Super speed and diligence protecting you and your family's the entire process, even after watching some of these other attorneys in the courtroom appearing to mishandled their clients’ cases before the Trustee. You made it easy and I’m finally getting my financial life back on track! Thank you for your prompt replies to me, your clear information and preparation needed when at the courthouse. I would of course recommend you to others and I am glad you were the one who had my case. Kind genuine law firm who treats you like family. God bless you all and I pray for your continued success in your field of expertise. This firm is Super Lawyers for a reason. They are the best at what they do! Pete
Doug Tinlin
Doug Tinlin
06:55 15 Feb 18
Brad Sadek gave me hope when he decided to handle my mortgage for enclosure defense. I had exactly 10 days left of the 30 days ultimatum given me, but he was able to bargain for an extra 30 days for me to pay up. That duration turned out just right.
Jacinth Jacinth
Jacinth Jacinth
16:07 31 Jan 18
Excellent service. Brad and Matt were outstanding and friendly. They helped me through this. I’ve never met attorneys like these. Thank you!
julie njoku
julie njoku
12:29 24 Jan 18
Brad Sadek is excellent!. He understands and he's fair. You feel like you have someone fighting for you. The staff is friendly, professional, and courteous. These guys are the best at what they do !
Owen Black
Owen Black
20:14 09 Jan 18
Thanks for the great service! I would recommend this firm highly. Throughout the years I have been helped by this firm greatly and very much appreciated.
Steven Rychalsky
Steven Rychalsky
15:30 09 Jan 18
Sadek and Cooper law office was a wonderful experience to work with. Bankruptcy is a difficult experience but they helped with the stress so much and made it easy. I would recommend Sadek and copper too anyone.
Chris Kourelias
Chris Kourelias
19:09 28 Dec 17
Working with both Brad & Matthew was a pleasure. Both gentlemen are extremely knowledgeable and helpful in providing me the right assistance needed to make the correct decision to benefit me in the long run. I would recommend both candidates to anyone looking for assistance with a reputable law firm.
Jennyfer Santana
Jennyfer Santana
21:17 21 Dec 17
Highly Recommended. Matt & Brad assisted with my case. I felt comfortable throughout the entire process. Matt was very understanding, patient, and ensured he answered all my questions! Both great guys and very friendly! It was a pleasure working with Matt and Brad.
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