When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Jefferson County, Alabama.
For most publicly-held companies, filing for Chapter 11 bankruptcy is better because it is a way to rehabilitate the business.
Under a Chapter 7 bankruptcy, all of the assets are liquidated and the business is generally dissolved at the end. Most businesses, therefore, prefer to file for Chapter 11 bankruptcy, in which a trustee is appointed to reorganize the company's finances.
The business may then "emerge" from bankruptcy. Contact a business bankruptcy attorney in Jefferson County, Alabama for legal advice.
Board Certification in Business Bankruptcy Law - The American Board of Certification (ABC) is accredited by the ABA to certify attorneys as specialists in business bankruptcy law.
NACBA serves the needs of consumer bankruptcy attorneys and works to protect the rights of consumer debtors.
Lawyer Referral Service of the Birmingham Bar Association - The Birmingham Bar Association sponsors a Lawyer Referral Service that helps individuals and businesses find an attorney throughout Birmingham in Jefferson County and Columbiana in Shelby County, Alabama. More than 150 local attorneys participate in the Lawyer Referral Service. These local attorneys are pre-screened for their good standing with the Alabama Bar, experience in a particular practice area of the law and other eligibility factors.