Business Bankruptcy Lawyers in Winnebago County, IllinoisWhen a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Winnebago 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 Winnebago 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.
"Find a Lawyer" Service in Winnebago County, IL - The Winnebago County Bar Association in Rockford, IL, sponsors a public "Find a Lawyer" feature on its website. The "find a lawyer" feature contains a list of local pre-screened attorneys and the areas of law in which they concentrate. You can use the website of the Winnebago County Bar Association to find an attorney in the needed practice area.
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