Business Bankruptcy Lawyers in Peoria County, IllinoisWhen a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Peoria County, Illinois.
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 Peoria County, Illinois 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 in Peoria, IL - The Peoria County Bar Association sponsors a lawyer referral service that helps individuals and businesses find private attorneys practicing in Peoria County or Tazewell County, IL. The attorneys that participate in the service agree to charge a nominal referral fee in exchange for a 30 minute consultation with the client. You can complete the online form or call the service at 309-674-1224 for the referral.
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