San Antonio
The Chapter 11 Bankruptcy code, properly applied, allows the potential for:
Pausing IRS Levies.
Business bankruptcy attorneys can use Chapter 11 Bankruptcy to often stop the IRS from levying your bank accounts and get you up to 5 years to repay your 940/941 and income taxes without incurring additional penalties.
Pausing Texas State Comptroller Actions.
Nothing stops a business like the State of Texas attaching your bank accounts and seizing your inventory. Our Chapter 11 Bankruptcy lawyers can often use business bankruptcy to release your accounts and protect your assets.
Pausing Creditor Activity.
Immediately upon filing for business reorganization, your creditors are to stop making harassing phone calls, calling your customers, and seizing your assets. We can use the Chapter 11 Bankruptcy process to work out a plan that, upon court approval, will allow you to pay your debts over time and often reduce the total amount you pay.
Too often lawyers think of bankruptcy as only a last-ditch resort when all else fails. But the truth is, that in the hands of an experienced San Antonio bankruptcy attorney, Chapter 11 Reorganization is a potential tool to help save your business. When you file for Chapter 11 Bankruptcy protection in San Antonio, an automatic stay goes into effect preventing almost all creditors, even the IRS, from collecting from your company and garnishing your accounts.
Foreclosure sales will often be stopped in their tracks when your lawyer files Chapter 11 Bankruptcy:
- For six months to a year or longer, you can delay making payments to your unsecured creditors and most likely make reduced payments to your secured creditors.
- Payments for taxes incurred prior to filing the Chapter 11 Bankruptcy petition are most often put on hold until you confirm a Chapter 11 Bankruptcy plan.
- The automatic stay allows you precious time to make bold decisions to reorganize your business and accumulate cash to successfully turn your business around.
Ron Smeberg has successfully reorganized hotels, a large trash collection company, a publicly traded manufacturing company, a day care group, gas stations/convenient stores, a large law firm, a physician and his practice, a medical implant manufacturing/sales company, an apartment complex, home health/hospice companies, a large retail furniture store, a massage therapy clinic, and individuals who needed the flexibility of Chapter 11 that Chapter 13 does not provide.
Click Here to download a case sheet of Ron Smeberg’s Chapter 11 Cases.
Sometimes the goal is not formal reorganization.
- Sometimes your business just needs a little breathing room to complete a sale or complete financing. Chapter 11 Bankruptcy can be used to delay creditors long enough to complete transactions.
- Our San Antonio lawyers have used Chapter 11 Bankruptcy to sell a shopping center, gas station, intellectual property, apartment complex, equipment, and vehicles. Sometimes assets have little or no equity and our lawyers have used Chapter 11 Bankruptcy to substantially reduce the amount of debt owed on secured assets.
- Chapter 11 Bankruptcy can even be used to take a private company public or a public company private.
Ron Smeberg can also help your company deal with its creditors who file bankruptcy. When it comes to chasing bad guys who have run off with your money or dead beat debtors, San Antonio-based bankruptcy attorney Ron Smeberg could be your ally. Our bankruptcy and litigation lawyers know how to potentially recover your money from bad players.
Ron Smeberg is one of the few attorneys in the State of Texas to force a corrupt business person into involuntary bankruptcy and force him to stay there, using 11 USC 303 of the bankruptcy code. Ron Smeberg’s actions resulted in recovery of almost $300,000 from the FWLL fracking scheme in South Texas. If someone has defrauded you out of your money, Ron Smeberg and the attorneys of Smeberg Law Firm PLLC in San Antonio, Texas, are here to fight to make you whole.