Corporate Bankruptcy Explained

Corporate bankruptcy is the legal process that allows a business to restructure its debt and assets. This process can be used to reorganize the business, pay off creditors, or liquidate the company. Corporate bankruptcy is often seen as a last resort for businesses that are struggling to stay afloat.

There are two types of corporate bankruptcy: Chapter 7 and Chapter 11. Chapter 7 is known as liquidation bankruptcy, which means that the business will be sold off in order to pay creditors. Chapter 11 is known as reorganization bankruptcy, which allows the business to restructure its debt and keep operating.

Corporate bankruptcies can be complex and difficult to understand. If you are considering filing for corporate bankruptcy, it is important to seek out the advice of an experienced attorney.

The Law Offices of Omar Zambrano has helped thousands of the people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706