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Zach Shelomith, Partner, Leiderman Shelomith Alexander + Somodevilla. Zach Shelomith, Partner, Leiderman Shelomith Alexander + Somodevilla.

A Chapter 11 bankruptcy is not an easy process. While it can provide breathing room to negotiate with creditors and allow businesses a chance to continue operating, it is expensive, complicated and typically favors larger companies. The advantages of Chapter 11 bankruptcy are oftentimes unavailable to small businesses and its owners. The substantial disclosure and reporting requirements alone scare off many potential debtors.

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