Maryland Chapter 12 Bankruptcy
Chapter 12 of the bankruptcy code provides an opportunity for reorganization for family farmers and fishermen. It is a highly specialized chapter of the bankruptcy code that applies to a narrow class of individuals and businesses. The key benefit of chapter 12 is that it offers family farmers and fishermen the ability to restructure their obligations in a more expeditious and affordable manner than chapter 11. In Chapter 12, creditors do not vote on a farm or farmer's plan of reorganization. Additionally, farms and farmers can re-amortize mortgages beyond a five year period. The Law Offices of Morgan Fisher LLC presently represents three family farms and two family farmers in chapter 12 cases before the United States bankruptcy court for the District of Maryland.