When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in New York 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 New York 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 New York City - The New York City Bar Association ("NYCBA") established a Lawyer Referral Service ("LRS") in 1946. For more than 65 years, the LRS has helped individuals and businesses find a qualified attorney throughout the five boroughs of New York City.The NYCBA LRS is the oldest lawyer referral program in the State of New York. In exchange for a $35 consultation fee, you are entitled to a 30 minute consultation to discuss your case with a local attorney. The fee is waived for personal injury, medical malpractice, state workers' compensation or a Social Security Disability case.