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Chapter 12: Fishing for Secrets

One of the least known attributes of bankruptcy is the benefits it can afford to the distressed farming or fishing operation. There is a form of bankruptcy – Chapter 12 – that is designed exclusively for that purpose. It happens to be one of the most flexible and feature-abundant forms of reorganizing bankruptcy. Unlike Chapter 11, the voting acceptance of creditors is not required. Chapter 12 can allow farmers/fishermen opportunities to reduce and restructure loans on equipment and vehicles, eliminate or substantially reduce debt to suppliers, and forestall payments on a seasonal basis.

Would you like to know if you are eligible for Chapter 12? Take a look at the following questions. If you answer “yes” to any of these questions, Chapter 12 may provide the solution you are looking for:

  • Are you or your business primarily engaged in a farming or fishing operation?
  • Is your total debt less than 3,800,000?
  • Is the debt at least 50% related to your farming or fishing operation?

At MFWBH, we have successfully restructured citrus farms, packing houses, u-pick vegetable farms, and aquaculture facilities. And to assist those who provide so much to the fabric of our nation, we offer a free consultation to our friends in the farming and fishing industries.

Please call (561)626-4700 for an appointment.

Markarian & Hayes
Markarian & Hayes is located in Palm Beach, Wellington & Vero Beach, Florida and serves clients across Florida from Vero Beach to the Florida Keys, including those in and around Palm Beach, West Palm Beach, Pahokee, Delray Beach, Loxahatchee, Coral Springs, Boca Raton, Boynton Beach, Lake Worth, Deerfield Beach, South Bay, Pompano Beach, Hobe Sound, Stuart, Port St. Lucie, Sebastian, Fort Pierce, Hollywood, Tampa, Tallahassee, Orlando, Martin County, Broward County, Hillsborough County, Leon County, Palm Beach County, Fort Lauderdale, Miami-Dade County and Sebastian. The firm’s lawyers also have a long history representing clients’ interests throughout the Caribbean.
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