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In these financially troubled times many owners are confronted with the dire choice of saving their businesses or their personal assets. Saving a business can include a reorganization. Your business can reorganize with a bankruptcy (Chapter 11) or a creditor workout. In deciding how to reorganize your business, you should consider the differences between a Chapter 11 bankruptcy and a creditor workout, including: Timing. A workout can be faster as a bankruptcy has many notice and timing requirements. Scope. While a bankruptcy involves all creditors, a workout need only involve those parties necessary to reorganize your business. Cost. Workout costs are… Continue Reading Business Reorganization