When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in New London 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 New London County, Connecticut 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.
New London County Bar Association Lawyer Referral Service - The Lawyer Referral Service sponsored by the New London County Bar Association helps individuals and businesses find a qualified private attorney throughout the county, including the cities of New London and Norwich, Connecticut. This community based non-profit service charges a nominal processing fee in exchange for the referral. 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.