Local Air is a small,locally-owned heating and air conditioning repair business.Business has not being going well,and Local Air's owner is contemplating bankruptcy.The owner is concerned,however,about the complexities and time involved in filing a traditional Chapter 11 bankruptcy.Assuming that Local Air has under $2 million in debts,what non-traditional Chapter 11 option is available for small businesses,and how does that option work?

Question

Quizplus · Accepted Answer

The Answer of Local Air is a small,locally-owned heating and air conditioning repair business.Business has not being going well,and Local Air's owner is contemplating bankruptcy.The owner is concerned,however,about the complexities and time involved in filing a traditional Chapter 11 bankruptcy.Assuming that Local Air has under $2 million in debts,what non-traditional Chapter 11 option is available for small businesses,and how does that option work?

Local Air Is a Small,locally-Owned Heating and Air Conditioning Repair