Business Bankruptcy Law Firm in Omaha
Partnering with The Orr Law Group gives you access to some of the best lawyers for bankruptcy in Omaha. We represent your company in all matters related to business bankruptcy law, like corporate restructuring and business workouts. Get thoughtful, experienced representation today!
Our Corporate Bankruptcy Services
The Orr Law Group will help you plan for and decide on the difficult process of declaring business bankruptcy.
Pre-Bankruptcy Planning
For businesses facing financial distress, effective pre-bankruptcy planning is crucial. Our insolvency lawyers work closely with clients to assess potential risks, preserve value, and, if necessary, position the company for strategic filings.
Here are ways we help companies plan for bankruptcy:
- Evaluating bankruptcy alternatives before filing
- Identifying and protecting key assets under applicable exemption laws
- Analyzing and mitigating risks of insider payments or fraudulent transfers
- Developing strategies for dealing with creditors and contract obligations
- Reviewing executive compensation and governance compliance
- Coordinating with financial advisors and turnaround professionals
Business Liquidation
When a business can no longer sustain operations or repay debts, it may need to file Chapter 7 bankruptcy, also known as liquidation bankruptcy. We guide owners through the process, ensuring compliance with bankruptcy law in Nebraska and Iowa, minimizing exposure, and facilitating a smooth legal dissolution.
Get help from our Chapter 7 lawyers, who:
- Assess eligibility and strategic fits for Chapter 7 liquidation
- Prepare and file all required bankruptcy petitions and schedules
- Collaborate with a court-appointed trustee to manage asset liquidation
- Address creditor claims, both secured and unsecured
- Ensure proper dissolution of business entities post-liquidation
- Provide post-filing support for rebuilding credit
Reorganization Bankruptcy
Understanding the distinction between restructuring vs. bankruptcy is key. While restructuring can occur out of court, Chapter 11 provides formal tools and legal guidance for developing a reorganization plan, negotiating with creditors, and receiving court approval.
The Orr Law Group’s Chapter 11 bankruptcy lawyers will guide you through:
- Developing a reorganization plan and negotiating with creditors
- Navigating debtor-in-possession (DIP) financing and cash flow management
- Assisting with preparing and filing the necessary court paperwork
- Litigating disputes involving executory contracts and leases
- Addressing tax consequences and compliance throughout the case
- Guiding post-confirmation transition and operational restructuring
Business Workout
Corporate workouts are an out-of-court restructuring plan between a financially distressed company and its creditors. This effective bankruptcy alternative helps businesses restructure debt, renegotiate contracts, and restore stability without the cost and complexity of legal proceedings.
Partner with our business debt lawyers to:
- Analyze your financial position and identify viable workout strategies
- Negotiate debt restructuring and forbearance agreements with creditors
- Assist refinancing efforts or asset sales to improve liquidity
- Address default provisions and loan covenant issues
- Review and renegotiate leases and vendor contracts
- Protect directors and officers from personal liability during negotiations
Why Choose The Orr Law Group?
The Orr Law Group guides businesses through the financial and legal challenges of insolvency with strategic, practical solutions. Our team brings a deep understanding of Nebraska and Iowa bankruptcy law to protect clients’ interests.
Practical & Personalized
Every case is unique, which is why we offer sound legal strategies tailored to your specific business goals and financial realities.
Timely, Transparent Communication
We keep you informed at every step of your case, providing prompt, honest updates and clear explanations.
Focused Legal Expertise
Our corporate bankruptcy attorneys bring focused legal knowledge to help you craft solutions that preserve value and limit risk.
Knowledgeable, Experienced Advocates
Our bankruptcy attorneys have decades of experience in helping companies handle difficult financial situations.
Dedicated Client Advocacy
We fiercely protect our clients’ interests in negotiations and litigation, ensuring fair and honest representation.
Unmatched Professionalism
The Orr Law Group holds itself to the highest ethical and professional standards, earning your trust through sound judgment and discretion.
Who We Serve
Orr Law Group’s bankruptcy lawyers provide comprehensive support for businesses handling financial problems or distress, including:
- Large companies facing insolvency who require orderly wind-downs
- Small business owners filing for Chapter 7 or Chapter 11 to manage business debt
- Creditors' committees and secured lenders seeking to protect or recover secured interests
- Directors, officers, and fiduciaries exposed to personal liability who need legal advice
- Trustees and receivers requiring legal support in administering estates and managing assets
Our Business Bankruptcy Law Process
Declaring corporate bankruptcy can be tricky, and there are several alternative options. The Orr Law Group’s team helps break down the types of bankruptcies and the process for filing so you can make an informed decision.
Step One: Initial Consultation
Before filing, we’ll sit down and collaborate directly with you on your business goals. Our lawyers work diligently to protect your corporate assets and financial future as much as possible.
Step Two: Thoughtful Legal Plans
Based on your company’s situation, our legal professionals will suggest a personalized legal plan that establishes your position and mitigates unnecessary risks.
Step Three: Put Your Plan into Action
Our team handles the necessary legal paperwork and filings, ensuring your business bankruptcy plan is executed accurately and complies with state and federal regulations.
Step Four: Ongoing Guidance & Support
We assist even after your case is settled. Let us help you restructure or rebuild credit for the long-term future.
Experienced Business Bankruptcy Attorneys
Enlisting the help of The Orr Law Group’s expert bankruptcy lawyers will give you access to thoughtful legal representation that’s direct, realistic, and discreet. Whether you’re dealing with business reorganization, liquidation, or foreclosure, we have the team to help you.
Paul D. Heimann
Paul is a seasoned corporate attorney with decades of experience advising entrepreneurial business owners and managers on legal matters. He has helped clients navigate delicate situations, including business workouts and litigation. Paul excels at translating complicated legal challenges into clear, practical solutions. Paul holds a J.D. with high distinction from the University of Nebraska College of Law and a B.S. from Nebraska Wesleyan University.
- "I use my experience to provide concise solutions to complex problems. I'm known for my rigorous and creative counsel to businesses in the construction, corporate, employment, tech, real estate, and securities sectors."
Schedule Your Consultation
If you need assistance handling financial insolvency or a corporate restructuring, schedule a consultation with our business bankruptcy lawyers today!
Commercial Bankruptcy Law Frequently Asked Questions
What is the difference between Chapter 7 and Chapter 11 bankruptcy?
Chapter 7 is a liquidation process when business operations cease, a trustee sells assets, and the entity dissolves. In contrast, Chapter 11 allows companies to stay in control as a “debtor in possession” as it reorganizes debts and renegotiates contracts under court supervision. The Orr Law Group can help you determine which option is right for your business.
How much does it cost to file for bankruptcy in Nebraska?
Filing for Chapter 7 bankruptcy in Nebraska costs $338, while filing for Chapter 11 bankruptcy typically costs $1,738. Additional attorney fees in Nebraska will vary by the type of bankruptcy you’re filing for, the complexity of the case, and your location. Schedule a consultation with The Orr Law Group for pricing information specific to your situation.
Do I need a lawyer to file for business bankruptcy?
While your company can file without an attorney (“filing pro se”), it’s advisable to seek professional legal counsel to help you navigate the intricacies of bankruptcy law. You can find some of the best bankruptcy lawyers at The Orr Law Group.
How long does a business bankruptcy take?
Chapter 7 cases are usually resolved within 3 to 4 months, whereas Chapter 11 cases can extend from six months to two years, depending on the complexity of reorganization and negotiation. Contact our lawyers to get an estimated timeline for your case.
What happens to business loans after bankruptcy?
Chapter 7 typically results in the discharge of unsecured debts, with secured creditors being paid from the liquidation proceeds. In Chapter 11, existing loans may be restructured, extended, or reduced as part of the reorganization plan if the court approves. The Orr Law Group’s business bankruptcy attorneys in Nebraska and Iowa will help handle your business loans.
Does corporate bankruptcy affect personal credit?
Corporate bankruptcy generally does not impact personal credit unless the business owner has personally guaranteed the debts. In these cases, personal credit may be affected, and declaring personal bankruptcy may be necessary. Help protect your assets by partnering with the team at The Orr Law Group.
How do you file for or declare corporate bankruptcy?
To declare corporate bankruptcy, a petition must be filed in federal bankruptcy court. This process involves preparing detailed financial statements, schedules of assets and liabilities, and a statement of financial affairs. Our qualified business bankruptcy attorneys will walk you through every step.