Chapter 12 Bankruptcy
Who is eligible for a Chapter 12?
Chapter 12 is designated for family farms or fisheries. This Chapter offers the farm or fishery owner the ability to reorganize their finances and debts while still keeping their farm or fishery. The farm or fishery owner will work with a bankruptcy trustee and creditors to formulate a payment program that will meet the owner obligations. This proceeding is available for individually run family farms and fisheries as well as those owned by a corporation or partnership. At the Miami Legal Center, our experienced attorneys have dealt with numerous issues in Chapter 12 proceedings, including cramdowns motions of secured creditors.
Contact us for more information on Chapter 12.