Chapter 11 Bankruptcy Attorney in Waco, TX

Over 40 Years of Exclusive Bankruptcy Practice, Serving Central Texas

Chapter 11 bankruptcy gives businesses a legal path to restructure debt while keeping operations running. It’s available to corporations, partnerships, and sole proprietorships, and it’s one of the more demanding processes in the U.S. Bankruptcy Code: detailed financial disclosures, a creditor vote, and court approval of a Plan of Reorganization are all required. Businesses considering this path need counsel who handles nothing but bankruptcy law.

At Erin Baker Shank, PC., we’ve practiced bankruptcy law exclusively since 1983, giving us over 40 years focused entirely on reorganization and debt relief for individuals and businesses throughout Central Texas, including Waco and McLennan County. Cases filed by Waco-area businesses are heard in the U.S. Bankruptcy Court, Western District of Texas, Waco Division, and we appear at all hearings on your company’s behalf. We handle the entire case remotely via Zoom, from the initial consultation through every court appearance. Free initial consultations are available.

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

How Chapter 11 Bankruptcy Works for Texas Businesses

Before filing, Erin reviews your company’s financial circumstances and advises whether Chapter 11 is the right choice. Once we have the necessary information, we prepare the first draft of all bankruptcy documents. Erin then meets with you via Zoom to go through each page before anything is filed.

Once your petition is filed, the automatic stay takes effect immediately. This court order halts all collection actions: creditors can’t request payments, file lawsuits against your business, evict your business from commercial property, commence or complete a foreclosure, or seize company property.

You retain control of your business as debtor-in-possession throughout the reorganization process. Court approval is required for certain significant transactions, such as entering a new commercial lease, liquidating company property, or shutting down portions of the business.

Shortly after filing, Erin prepares and files the Disclosure Statement, which provides a complete breakdown of your company’s financial background. She then prepares the Chapter 11 Plan of Reorganization and sends it to your creditors for a vote.

Creditors vote to accept or reject the plan. If creditors vote against it or file legal objections, the bankruptcy court may still confirm the plan. The judge may overrule those objections if the Plan of Reorganization is fair and reasonable and satisfies the requirements of the Bankruptcy Code, a process sometimes called a cramdown.

As your chapter 11 bankruptcy attorney in Waco, Erin prepares and files all bankruptcy documents, attends all hearings and creditor meetings on your company’s behalf, and guides your business through each stage of the process from filing through plan confirmation.