When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Litchfield County, Connecticut.
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 Litchfield County, Connecticut for legal advice.
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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.
Hartford County Bar Association Lawyer Referral Service - The Lawyer Referral Service is sponsored by the Hartford County Bar Association. This community based non-profit service helps individuals and businesses find an attorney in Litchfield County in the northwestern corner of Connecticut. The LRS also serves the counties of Hardford, Middlesex, Tolland and Windham. The service charges a $25 processing fee for the referral. The $25 fee is waived for workers' compensation, personal injury, and social security disability cases. Attorneys that participate in the service must carry malpractice insurance and are pre-screened for their experience and good standing with the Connecticut State Bar.