Can I sell my business after my Chapter 11 plan was confirmed?

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Can I sell my business after my Chapter 11 plan was confirmed?

Do I have to notify the court?

Asked on May 21, 2012 under Bankruptcy Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you filed for Chapter 11 bankruptcy protection (re-organization) and you ended up getting your bankruptcy plan confirmed by the court, there is nothing preventing you legally from selling your business under a valid contract.

Under federal bankruptcy laws, you do not have to notify the court as to the pending sale of your business so long as the sale is an arms length transaction.


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