Corporate Bankruptcy

Our Atlanta corporate bankruptcy attorneys help businesses across Georgia navigate Chapter 7 liquidation and Chapter 11 reorganization. We guide you through every step, from evaluating options to negotiating with creditors, so you can protect your business and make informed decisions about the future.

If your business is struggling to meet financial obligations, bankruptcy may provide a path forward. At Thrift McLemore, our Atlanta corporate bankruptcy attorneys help businesses across Georgia navigate the difficult choices that come with financial distress. Whether you need to shut down operations through Chapter 7 or restructure debt and keep operating under Chapter 11, our attorneys provide experienced guidance at every step.

Corporate Bankruptcy Options in Georgia

Corporations facing insolvency typically must choose between filing under Chapter 7 or Chapter 11 of the U.S. Bankruptcy Code. Each option comes with different requirements and outcomes. Consulting with an experienced Atlanta bankruptcy attorney can help you decide which best fits your situation.

Chapter 7 Bankruptcy for Georgia Corporations

Chapter 7 is often called “liquidation.” In this process, a court-appointed trustee sells the corporation’s non-exempt assets, and the proceeds go toward paying creditors.

• Business operations must stop once Chapter 7 is filed.

• An automatic stay immediately prevents creditors from pursuing collection.

• Creditors are prioritized by law, with secured creditors being paid before unsecured creditors.

• Once the process is complete, the corporation no longer exists, and any remaining unpaid debts are discharged.

Chapter 7 can provide closure when continuing operations is no longer realistic, while also stopping aggressive collection efforts.

Chapter 11 Bankruptcy for Georgia Corporations

Chapter 11 is known as “reorganization.” It allows a corporation to keep operating while restructuring its debts under court supervision.

• Debts are reorganized into a more manageable payment structure.

• A creditors’ committee may be appointed to represent the interests of unsecured creditors.

• The corporation must follow a court-approved reorganization plan for up to two years.

• The goal is to emerge from bankruptcy as a profitable, viable business.

While Chapter 11 is more complex and time-consuming than Chapter 7, it gives many businesses the chance to survive and rebuild. If the reorganization plan fails, the case can be converted to a Chapter 7, resulting in liquidation.

How Our Atlanta Bankruptcy Attorneys Can Help

At Thrift McLemore, we know bankruptcy is not just a financial decision but also a deeply personal one that impacts owners, employees, and communities. Our attorneys help Georgia business owners:

• Evaluate whether Chapter 7 or Chapter 11 is the best path

• Protect assets and minimize exposure where possible

• Negotiate with creditors during the process

• Guide corporations through reorganization plans

• Manage compliance with court requirements and creditor committees

• Provide straightforward explanations at each step

We combine legal knowledge with practical business experience to guide you through bankruptcy in a way that protects your long-term interests.

Our Aim

Our goal is to help you make the right choice for your business and then advocate for you throughout the process. When reorganization is possible, we work toward keeping your company open and moving back toward profitability. When liquidation is unavoidable, we focus on protecting your interests, reducing liability, and ensuring the process is handled as smoothly as possible.