Chapter 11

Killeen & Waco Chapter 11 Bankruptcy Attorney

Central Texas Bankruptcy Relief for Struggling Companies

Though individuals sometimes file for Chapter 11 in certain situations, this type of bankruptcy is primarily used by large corporations. If your business is experiencing financial difficulties and is in danger of losing critical assets, Chapter 11 bankruptcy can give your company the time and resources you need to reorganize your debt and get back on track. 

It is not wise to pursue Chapter 11 relief without an experienced bankruptcy lawyer. You will need to complete complex paperwork and propose a plan that your company's creditors will vote on.  

The Killeen & Waco Chapter 11 bankruptcy lawyer at Erin Baker Shank, P.C. has over 40 years of legal experience and is passionate about helping Texas businesses prosper. Erin and her team of talented paralegals can guide your company through each step of the process and will actually write your company=s Chapter ll Plan of Reorganization. Erin and her paralegals meet with all of their clients virtually,  meaning most (if not all) of your Chapter 11 case can be handled remotely.  

If your business is considering Chapter 11 bankruptcy, call (254) 690-4110 or contact the firm online to schedule a free initial consultation. Flexible payment plans for our attorney's fees are available. 

Understanding Chapter 11 Bankruptcy for Texas Businesses

When a corporation is struggling to pay creditors, it may turn to Chapter 11 bankruptcy. You should always discuss your case with an experienced bankruptcy attorney before filing. Erin will review your company=s financial circumstances and advise whether Chapter 11 is the right choice. After we receive all of the necessary paperwork, the team at Erin Baker Shank, P.C. will prepare the first draft of your bankruptcy paperwork. Before we file, Erin will meet with you via Zoom to go over each page of your bankruptcy paperwork before your case is filed to ensure that it is accurately and completely prepared before your case is filed.   

Once your petition is filed, your business will immediately benefit from a court order called the automatic stay. The automatic stay temporarily stops all collection actions, meaning your creditors will not be able to request payments, file lawsuits against your business, evict your business from commercial property, start or complete a foreclosure, or seize your company=s property. 

You (and other owners) will maintain control of your business during the Chapter 11 process. However, you will need to get permission from the bankruptcy court to carry out certain transactions, such as entering a new commercial lease, liquidating company property, or shutting down portions of your business. 

Shortly after filing, Erin will prepare and file a  Disclosure Statement that provides a complete breakdown of your company's financial background and a Chapter ll plan that she will send to your creditors and request that they vote for or against it. 

Your business's creditors will vote on your proposal. If the creditors vote against the plan or file legal objections to it,  the bankruptcy court will consider if your company=s Plan of Reorganization can nevertheless be approved.  The bankruptcy judge  can overrule creditors objections and votes if the Court  believes the Chapter ll Plan is fair and reasonable and meets all of the other legal requirements set forth in the Bankruptcy Code. 

 Killeen and Waco Chapter 11 bankruptcy attorney  Erin Baker Shank will prepare and file all of your Chapter ll bankruptcy documents and  help your business prepare a robust plan designed to satisfy creditors and reorganize. Erin appears at all bankruptcy hearings and meeting on your company's behalf. 

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What Our Clients Say

Real Stories from People We've Helped Through Financial Hardship

At Erin Baker Shank, P.C., your satisfaction is our priority! See for yourself what our clients have to say about working with us.

    “Thank you so much! We are extremely grateful for everything you’ve done for us.”
    Ms. Shank and Sharlyn were absolutely fantastic! Very helpful, and knowledgeable and answered any questions or concerns we had. They truly pulled off a miracle. If you’re thinking of filing for bankruptcy, Ms. Shank is the woman for the job.
    Monique K.
    “I strongly recommend Erin and her staff!”
    Erin is really good at what she does. You will be very pleased if you select her to represent you. Her staff is very professional. The best thing about them all is that they truly cared about me.
    Don K.
    “I highly recommend her for anyone's bankruptcy needs as she never makes you feel ashamed for needing help.”
    Ms. Shank and her associates, particularly Sharlyn, are very professional and knowledgeable regarding bankruptcy law. Anytime we have had a question or concern, they have addressed it promptly and honestly. I chose Ms. Shank's office after watching her videos on her website. She struck me as an honest, caring person and I have found that to be the absolute truth. I cannot say enough good things about Ms. Shank and her associates.
    Lisa B.
    “Recommend this firm 100%”
    I'm very grateful to this firm. I had doubts of being able to get a fresh start. They assured me that there is a way. It may have took a little longer due to my situation but they prevailed.
    Ed B.
  • AVVO 9.1
  • AVVO client choice 2014
  • AVVO 9.6 bankruptcy
  • The College of the state bar of Texas
  • AVVO Reviews
  • Client Champion
  • AV Preeminent
  • Greater Waco Chamber

Commonly Asked Questions

What are the benefits of filing for Chapter 11 bankruptcy in Killeen and Waco?

Filing for Chapter 11 bankruptcy in Killeen and Waco offers several advantages for struggling businesses. It allows companies to reorganize their debts while maintaining control of their operations. The automatic stay provides immediate relief from creditor actions, giving businesses the breathing room needed to develop a viable plan for recovery. Additionally, with the guidance of a knowledgeable attorney, businesses can navigate the complex legal requirements and create a robust Plan of Reorganization that satisfies creditors. This process can ultimately lead to a stronger financial future for your company.

How does the Chapter 11 bankruptcy process work in Central Texas?

The Chapter 11 bankruptcy process in Central Texas begins with the filing of a petition in bankruptcy court. Once filed, an automatic stay is enacted, halting all collection actions against the business. The business owner retains control but must seek court approval for significant transactions. A Disclosure Statement and Plan of Reorganization are then prepared and submitted to creditors for a vote. If approved, the plan is implemented, allowing the business to restructure its debts and emerge from bankruptcy. Throughout this process, having a dedicated attorney can ensure that all legal requirements are met and that the business is positioned for success.

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