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 in Wisconsin. Chapter 11 bankruptcy is a way for businesses to reorganize their finances, allowing them to continue operating while they repay creditors over time. This can be done through a liquidating plan, where unsecured debts may be discharged over a set period of time. Under Wisconsin bankruptcy law, a business can remain functional while it reorganizes its finances and works out a repayment plan with creditors. A debtor may opt for a repayment plan, which allows their business to keep operating. The debtor is then able to pay back debts through the repayment plan over a 3-5 year period. This is a great option for businesses in Wisconsin that are struggling to get back on their feet and stay in business. It allows them to keep their business running and work with creditors to pay back their debts slowly. It is also beneficial for creditors, as it allows them to receive payments over a period of time. In summary, you can keep your business open during a liquidating plan in a Chapter 11 bankruptcy in Wisconsin. This can be done through a repayment plan, allowing the business to remain operational while they work out a payment arrangement with creditors. This can be beneficial for both businesses and creditors, as it keeps the business operating and allows the creditors to get paid over an extended period of time.

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