Business Bankruptcy Lawyers in Torrance, CaliforniaWhen a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in California.
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 California 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.
South Bay Lawyer Referral Service - The Lawyer Referral Service ("LRS") is a community based non-profit service sponsored by the South Bay Bar Association. The LRS offices are in Torrance, CA. For the past 25 years, the lawyer referral service has helped thousands of individuals and businesses find a qualified attorney throughout Los Angeles County.
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