When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Kings County, New York.
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 Kings County, New York 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 Brooklyn, New York - The Brooklyn Bar Association sponsors a Lawyer Referral Service (LRS) that helps individuals and businesses throughout Brooklyn and Kings County, NY. More than 150 local attorneys participate in the LRS across a wide variety of practice areas. In exchange for a nominal $25 consultation fee, you can schedule a 30 minute consultation with the attorney. The fee is waived for personal injury, social security disability and workers’ compensation cases.