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.