Chapter 11 Success Stories

Wartchow Law has filed and confirmed plans of reorganization in individual cases, small and large business chapter 11 proceedings since 2007, including representation across multiple industries including businesses engaged in residential property development and housing, hospitality and restaurant, media production and construction and general contracting.

Successful Chapter 11 proceedings and confirmed plans of reorganization include:

  • Small business Chapter 11 plan confirmed April, 2017, restructuring repayment of priority tax obligations to five years and significantly extending repayment period of unsecured debts to seven years.
  • Individual Chapter 11 plan confirmed August, 2016; plan extended term of certain secured debt repayment; additionally after five years, debtor will discharge personal liability on over $1.7MM unsecured debts.
  • Reorganized Minneapolis video and film production company in December 2013, successfully discharging over $375,000 in general unsecured debt in a 9-month Chapter 11 proceeding.
  • Prominent restaurant and bar in Uptown Minneapolis reorganized in November 2013. Negotiated the release of over $1.7MM in alleged sales tax owing from an indirect “mark-up” audit, reduced secured creditor claim by 60%, and discharged over $1.75MM in general unsecured claims.
  • Premier downtown Minneapolis sushi/steakhouse restaurant and lounge. Chapter 11 plan of reorganization confirmed October 2009, discharging $1MM in unsecured debt, reducing secured debt by over $460,000 and restructuring significant tax obligations over five years.
  • Downtown Minneapolis nightclub Chapter 11 plan of reorganization confirmed October 2010.
  • Classic live music venue and restaurant located in downtown Austin, Texas.
  • Defeated Bank of America in evidentiary trial in Bankruptcy Court, securing for the debtor a ten-year commercial lease option over the objection of its landlord in Chapter 11 bankruptcy proceeding.
  • Defeated change of venue motion brought by Bank of America seeking to move Chapter 11 proceeding from Minnesota to Texas.

Be sure to read more detailed content on chapter 11 issues and procedure on Wartchow Law’s Chapter 11 blog.