Can I keep my business open during a liquidating plan in a Chapter 11 bankruptcy?

Yes, you can keep your business open during a liquidating plan in a Chapter 11 bankruptcy, but it will come with certain restrictions. There are a few steps that you must take to ensure that your business can remain open while in the process of liquidation. First, you will need to file a plan of reorganization with the Bankruptcy Court in Washington that outlines the terms and conditions of your proposed liquidating plan. This plan must be approved by the Court and all creditors that are owed money by the business. Once your plan has been approved, you will need to make sure that you are in compliance with all of the provisions of the plan and remain solvent throughout the process. You will also need to maintain all required financial documents and make sure that all payments to creditors are made in accordance with the terms of the plan. Lastly, you will need to report any changes in the business’s financial situation to the Court and the creditors in a timely manner. By following these steps, you will be able to keep your business open during a liquidation plan in a Chapter 11 bankruptcy in Washington.

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